I have 2 cars but can only really aford one.?

Question

Ok now before hand I know my credit score it's almost over 720 and I know how to build it so....

even saying that I shouldn't have done this.

I bought a car for 2040, but now its sitting in a lot cause its not registered cause it has a couple problems. I can't sell it till its fixed and registered and im paying for it to be in the lot.

Now I have a 10,000 dollar loan out for a lincoln and that with the insurance is kicking my ***.

I make around 1400 a month/in the military. What I want is to sell the car I own the nissan 300zx but its not as reliable as the lincoln ls.

car payments about 225 and insurance is about 240 a month, plus i have a personal loan for the nissan but its not connected to the car. 80 dollars a month, cell phone and gas around 120 a month. 36 a month to keep the nissan in the lot. 

I need the lincoln for transportation, well maybe not cause It would only take 10 minutes to walk to work and I truthfully only need a car for getting around faster. basically i need a car for plesure only.

I'm never going to be in debt cause I watch everything i do but still.

What should I do? or what would you do?

I'm not saving much but im in the process of fixing that

I'm only 19

Anonymous · Accepted Answer

225 +240+80= 545

It looks like you own the nissan free and clear on the title despite making payments on it.

You shouldn't make payments on  car with your salary unless you need it truly for the job trip from home.  Which you don't!

So you need to get rid of some cars, but it doesn't seem like you are desperate to the point you can't make another payment.  So I would put up the Lincoln for sale on base and get it clean up on your own.  You didn't specify how much you still owed on the Lincoln but if you can recoup or get close to blue book and that will pay most or all the loan...then do that.  You'll need to know what kind of papers to have filled out to sell the car to another person...such as knowing how the other person can take out a loan from the Navy (Army) (AF) credit union on base, and how that can happen smoothly.  

So a guy walks up and says I like the car but I can't afford xxx cash so you say, oh here's how you get a loan, here's the papers, and here's how to fill it out,and get an account and approval. Then you simply get paid with a check to pay off your amount owed.  

As for the Nissa, take that to the lot on base at the car repair shop and have some friends help you to get that fixed when you have some spare money.  It sound's like you don't owe much on that and so I'd keep that car and pay it off with the money you would have been paying for the Lincoln.

mrozek · Answer

Sell the Lincoln instantly. Use one of the vital cash to get the opposite one constant and promote it. Once you may have all of the closing coins for your hand then pass out and purchase a auto as much as that quantity most effective. You will then have a auto that you do not owe any cash on so not more charges besides the servicing and coverage.

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I have 2 cars but can only really aford one.?

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