4.6 • 682 Ratings
🗓️ 2 January 2024
⏱️ 8 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.5 | Cassandra kicks us off in Tucson, Arizona. Cassandra, what's going on? |
0:10.8 | Hi, how are you? |
0:12.1 | We're doing well. How can we help? |
0:15.0 | So, my husband and I, we started a rental car business through Turro. |
0:23.0 | Not sure if you're familiar with that or not. |
0:25.0 | I'm very familiar. |
0:26.6 | Yes. |
0:27.6 | I can almost guess where this is all going. |
0:30.5 | Yeah. |
0:31.4 | So we finance three vehicles that are now completely underwater. |
0:41.9 | And in Tucson, it's become pretty saturated. |
0:47.9 | So we're not doing as well as we had started off doing because we started off doing really great. |
0:54.6 | Now, since probably January, it started to kind of taper off, and then the cars got into some accidents, |
1:00.7 | and then there was no income from this business. So now we're personally backing it when we have like no money to back it. And so now it's racking up credit cards, and my husband's second |
1:07.6 | job that he has is having to fork out the money to pay for things when, |
1:13.1 | in reality that money should be going towards the credit cards because he's, um, when he |
1:20.5 | contracts work out, he has to put on a card and then gets reimbursed. |
1:24.4 | So now we're not being able to reimburse what he put on the card because now we have to |
1:28.0 | pay car payments and insurance. |
1:30.8 | Before George digs into the math here, I just need to ask you before we start talking, |
1:41.4 | are you willing to change your entire posture on this deal? |
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