Deleted
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Post by Deleted on Jul 14, 2013 22:04:12 GMT -5
This only sounds like an achievement when you know that he still had his last car when he decided to relocate and marry me. He ended up donating it because anything else seemed like too much trouble.
He had the same attitude this time, but he absolutely hates the fact that we had to finance $9500 of our $15,500 purchase. I don't like it, but I wasn't willing to pull out the total from savings when we could borrow at 2.85%. We couldn't borrow at that rate with an emergency.
He is really happy about the sale, though. He felt like the young firefighter who bought it needed a car. (Um, he had to rent one to come up here.) So while we sold it for $3500 (KBB said $4000), the feel good aspect is really helping. The young firefighter, though, wasn't the most savvy buyer. I had to suggest he test drive it. He just handed over the $$$ to DH. We don't like to cheat anyone, though, so I thought he should at least drive it around the block. That is literally what he did.
Anyway, I promised a $1000 contribution if he would actively try to sell it. So the loan will now be $5000, and he can quit paying insurance on it.
You guys are the only ones I can really share this with because he doesn't want to tell his goddaughter and her parents that he bought a new(er) car. He turned her down for cosigning a car loan, saying that he didn't think anyone would accept him as a cosigner because he doesn't work. I actually financed the car in my name and own the car. He doesn't want to loan his friend (her father) any more money either.
Good for him for understanding his $$$ are finite. He is even embracing the idea that he may need to save up for stuff like replacements for the run-flat tires.
I will make a YMer out of him yet!
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Deleted
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Post by Deleted on Jul 14, 2013 22:08:30 GMT -5
What do you mean by 'quit paying insurance on it' ?
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happyscooter
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Post by happyscooter on Jul 15, 2013 5:57:54 GMT -5
Oh, I am so glad he told the god daughter he couldn't co-sign anything. I really thought he would cave on that one.
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resolution
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Post by resolution on Jul 15, 2013 6:27:15 GMT -5
Grats on the car sale and on the progress of not loaning more money to god-daughter!
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Deleted
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Post by Deleted on Jul 15, 2013 7:57:21 GMT -5
What do you mean by 'quit paying insurance on it' ? We had to keep the car insured until we sold it. Once we surrender the tag (today), we can drop the insurance. It was only liability. ETA: You thought we were paying for credit life and were planning on revoking my YM membership, weren't you? I am hurt that you would think I would do such a thing.  |
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mmhmm
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Post by mmhmm on Jul 15, 2013 8:14:21 GMT -5
This is great, susana! It really sounds like he's learning to stand up and refuse to be used! For so many people, that's a really hard lesson because they honestly believe they're doing the "right thing" by allowing advantage to be taken of them. They've got good hearts, so it's good to see them learn to protect themselves. I'm really happy for the two of you! |
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Deleted
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Post by Deleted on Jul 15, 2013 9:27:41 GMT -5
I thought you meant somehow by dropping the loan a,punt you could stop paying insurance on the new car... I was confused |
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