Dave Ramsey
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Appearances Over Time
Podcast Appearances
Now, that makes the numbers better.
It makes them worse.
It makes me understand the numbers.
I didn't understand them at $1,250.
I couldn't figure out what Toyota had done to you.
All right, so anyway...
You find out what the early, if the car's worth $38,000, you find out what the early buyout is.
If I write you a check in full today, okay, then let's pretend that's $34,000.
You could simply go to the credit union and get a car loan for $34,000 and pay off the lease.
Then you would owe $34,000.
So it's more than...
the early buyout on the lease, but it has nothing to do with the mileage.
This is simply the financial part of the transaction of what can I pay my loan off for early.
That's what this is, okay?
And you compare that to the car.
Now, if it takes more than $38,000 to buy it out, let's call it $40,000, then you've got to arrange with your credit union to borrow $2,000 and sell the car to someone for $38,000.