George Kamel

Correct.

Okay.

Well, this truck needs to go, and so you might need to save up the amount you're underwater on just to get rid of it, and that would still be worth it.

And you go get you a beater car to get you from A to B in the meantime until you can save up and buy something used in cash.

But there's no other way to get out of the payments.

Yeah, that's expensive for a young guy.

A lot of risk for the insurance companies.

scrunching up pennies to try and if your credit score is still good i'd go down to your local credit union and see if they can give you a loan for the difference you're underwater on but still try to get top dollar for it that might be private party that might be like a carvan or carmax but just see how small you can make that gap you're underwater on get a loan for the different difference plus some to get you a beater car from a to b and you'll be out of this thing and be able to save up and

It'll have a lower interest rate.

Yes.

For sure.

What's your payment right now?

I'm paying $586 a month.

Ouch, plus the $300 in interest.

So you're going to be close to $900 a month.

Well, you're probably paying $586 in interest.

So every month, it's not moving the needle on the balance.

And so that's the issue.

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