FreePenguin
Well-Known Member
20k from Carvana and vroom. id rather keep it than that. and I can make my monthly payments, if my car is gone, im going to start chipping 2k a month extra at my payment. planning a full payoff within 3-4 years. With the way the economy is going, I really want my house paid off, so all I have are taxes and can put my $ into another asset. maybe some in stocks.Why not sell to Carvana or Vroom? Are they they still paying out good money?
Also, with the house, if you throw another $100-$200 per month in your mortgage payments, that will reduce principal and will make a really big dent annually… instead of just pumping the $25k from your car sale proceeds. Simply out, sure you can reduce your overall principle instantly as you stated, BUT it’s not changing your monthly payment at all (ie: no reduction, unless you refi, and by doing that then you get nailed with fees etc).
Think about it. You could also take that $25k and invest to make it grow…
I have been looking at my future a bit different since cat passed away, I have been starting to appreciate things a bit more that I have, I think downsizing to my TC and my 2 motorcycles is the way to go. I have 2 room mates and gf, and myself, we have 5 cars here, 1 in garage.
long story short, one room mate is moving, and id like to remove another car (mustang) and have total 3 cars here, so I have empty slot in garage incase of hail storms. I worry abut people stealing my car often too. Dayton Ohio / trot wood really isn't a good place to have nice stuff. but im anchored here due to work and family.
/end little rant. we shall see if I can sell it! if I dont get my 28-29k im keeping it. its an AWESOME car. but.. also, in 5-6 years, if they electricfy our mustangs, and a grabber blue variant comes out. (not mach e) but a genuine electrified monster with a 6 speed manual like they did at SEMA. I might jump on the wagon then when I am sitting in a pretty spot, maybe house paid off kinda deal
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Jk

but looking at everyone's car and how neat they are I'm kind of embarrassed tbh.