My Car Payment Is Standing Between Me And My Life
The Ramsey Show Highlights
Ramsey Network
4.5 • 840 Ratings
🗓️ 27 March 2026
⏱️ 10 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
| 0:06.6 | Two of a half years ago, I bought a car, and it's a good car to 2018 Corolla. But I have a 16.5% interest on it, |
| 0:19.1 | and over half of my payments go only to interest. I'm actually the |
| 0:25.3 | co-signer on the car. And my mother is the main signer on the car. And I have had job instability |
| 0:34.4 | housing instability over the years. And I'm just not putting my life together. |
| 0:39.2 | But currently, I haven't even been able to make my February car payment, so I also rely on |
| 0:45.4 | this car as a source of income. So what is your advice on the car? I would look for a different, |
| 0:53.3 | I would start looking for a different source of income that's |
| 0:55.8 | not tied to this car. My guess is you're doing some of the, one of the delivery apps. Yeah, I'm |
| 1:01.3 | actually a lift driver. I had a dead end job that I quit that, but I got a new job that is a |
| 1:09.7 | really good job, but it just, it doesn't start for a couple more weeks. |
| 1:13.3 | Yeah. |
| 1:14.3 | What is, how much are you going to be making at the new good job? |
| 1:18.3 | About three to four thousand a year. |
| 1:20.5 | You mean a month? |
| 1:21.7 | Or months, I mean, sorry. |
| 1:23.4 | Month, I am a swim instructor, and I'm contracting with a pool that pays very well for their lesson. |
| 1:33.0 | Okay. And then what's, what do you owe? What's the total amount owed on this car? |
| 1:38.3 | I owe 16,200 and I originally paid 18,500. Have you looked to see what it's worth? |
| 1:45.0 | If you looked on Kelly Blue Book, have you looked to see what it's worth private sale? Yes, it's worth $7,500. Oh boy, what happened to it? She's been driving Uber. Oh, yeah, that's true. Yeah. Destroyed the car. Okay, well then your only choice here, I mean, you're going to have to pay it off because |
| 2:01.6 | it's such a low value. |
| 2:04.0 | And you're going to have to work quickly to do it. |
... |
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