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The Ramsey Show Highlights

They Did 4 Dumb Things and Now Have a $900/month Payment

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 30 April 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.8

So my question is, I did something very stupid last year. I went ahead and got a Tesla at 13%.

0:14.5

My payments are $903 a month. And I just, we, my wife and I, I didn't listen to my wife and I did whatever I wanted to do.

0:25.8

So now I'm stuck in this math.

0:27.0

Man, that's like four dumb things.

0:29.2

Tesla, 13%, $900, didn't listen to my wife.

0:33.3

That's four dumb things.

0:34.9

Yeah.

0:36.2

So, um, so my question is, is, we were thinking about getting a personal loan to pay the negative

0:43.1

equity because I owe $43,000 on the car, but it's only worth about 19 to 20.

0:49.6

When did you buy it?

0:51.6

Last year, around March.

0:54.2

I wasn't aware they were depreciating that bad. I make fun of them all the time, but that's a lot. Did you buy it? Last year, around March. I wasn't aware they were depreciating that bad.

0:56.1

I make fun of them all the time, but that's a lot.

0:58.0

Did you roll negative equity into the deal?

1:01.3

About $5,000.

1:03.0

Okay.

1:03.9

Where are you getting your number on what it's worth now?

1:05.7

That sounds very low.

1:08.2

KKB, Web's KB? Yeah, private sale or trade-in?

1:14.4

Uh, trade-in. And it's, it's because I use my car for work, so I'm putting a lot of miles

1:18.9

every single day. How many miles did you put on it in a year, honey? Uh, about 30,000.

...

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