That's Dumber Than a Rock!

allison is with us in hammond louisiana hi allison welcome to the dave ramsey show hi thank you very much sure what's up um so we just moved to louisiana from maine about two months ago me and my husband we and i've been trying to find a job down here that i like and it's not working so now i have two jobs i work monday through friday i'm a tire mechanic at a shop and then i work at a harley-davidson store saturday and sunday and then i'm actually in the national guard also so one weekend a month i'm going to drill and i want to go to school but with having a schedule like that i'm just trying to break even on the bills right now i'm not trying to make a million dollars i mean like i'm trying but it's not working out but i don't know how to balance work and trying to go to school at the same time while still paying all the household bills and creating a plan what's your husband mike um he's on a tugboat so he makes 185 a day he works 21 days on 14 days off so it's a yeah so he's making 50 grand he's making 40 50 grand a year right yes about yeah okay and why can y'all not make your bills if he's making 40 50 grand a year and you're working yes um it's just i don't know if it was because of the move and we had to spend a lot of our money to get down here and get all our stuff down here that we don't have as much saved anymore how much debt how much debt do you have we have two vehicles and i have a credit card of five grand and a student loan for five grand okay what do you want what do you owe on the cars uh my car i owe 19 and his he owes 40 i think okay 40 000 and he's on a tugboat 21 days out of 30. for that dadgum thing to sit in the driveway that's dumber than a rock girl i it's a you're going to be mad at this part too um it's a leaf and i don't know how to get out of it that was that's the main thing i would love to get out of that you need to sell both of these cars the reason you don't have a life is you gave it to the dealership you're in slavery both of them have to go so the way you do a fleece and get out of it you're going to get out of it if i tell you how yes sir you can tell tug boy tug boat boy his car is gone right don't text him wait till i'm serious this stuff is killing you guys it's not the move that got you it's these cars you have 60 000 in car debt and your household income isn't even 60 grand i'm so sorry honey you're i'm i'm just i'm mad for you that they just screwed you this bad and you let it happen oh my gosh all right so how do we get out of it so here's what you do you jump online and find out what the stupid car is worth it's not a car it's a truck isn't it yes sir yeah okay we've been down this road a couple times oh so all right so uh me too i'm not laughing at you i'm laughing with you i just it's the same exact stuff i would have done when i was 25 are y'all 25 i'm 23. okay close enough all right and so um you jump online let's find out what the car is worth the truck is worth let's pretend that it's worth uh 35 000 where did you get 40 000 as to what you owe on it i'm sorry where did you get the number 40 000 that's owed on it since it's a lease um well we have we're gonna so for the leaf aspect i think we only owe about 10 but it's over miles so it's 25 cents per mile that it's over so we were thinking that the cheapest way to get out of it would be to buy it and then sell it at the end of the week it may be it may be the cheapest way but let's go ahead and do that now you don't have to wait till the end of the lease okay so you call them and ask them for the early buy out on the fleece if you want to give them a check and they give you the title have you done that is that where you got 40 no sir that's all together you were just estimating you were guessing okay how long has he had the truck two years what was the msrp on it when he bought it the the sticker on it 55 65. two years that was a sticker on it we got it knocked down probably to 52. uh uh not on a leash you didn't um okay family friends on the dealership yeah that they were so good to you too um yeah i know it's such a blessing to have friends like that um so all right so call them back and ask them to take back this blessing no they're not gonna take it back i wish i would have heard of you two years ago because i know you it's i'm sorry i'm sorry i just hurt i'm just hurt for you and i'm just aggravated for you not at you honey i just want you to get out of this because it's killing you it's killing you you're working in a tire store to pay for his truck so um all right so call the car fleece company and ask them what the early buyout is i'm afraid it's going to be more like 50 grand than 40. okay i don't know but you ask him for the early buyout and that's like the payoff on a car loan that's the same number okay that makes sense to you yes okay then what i want you to do is to jump on kelly blue kellybluebookkbb.com and let's find out what it's worth and then you're going to have to come up with a difference with a loan from someone if it's so if it's a 50 buyout and you look it up and it's worth 40 then you're 10 in the hole and if you get you got to write a 10 000 check in order to sell the truck and you're going to borrow that money somewhere but i'd rather you be 10 000 in debt than 50 which is what i think you are in debt i don't know well you'll have to get into it and figure it out but basically you've got to cover the difference and you're going to be in the hole just like if you had borrowed the money on a car loan you'd be in the hole you'd be upside down it works the same way it's only they hide it under the mystery and the fog of a lease but it's still all in there it's still you getting screwed is in there so here's what we need to do okay um i need to put the two of you and he is he got wi-fi available on the tub sure i'm assuming he does he has cell phone service here and there yeah yeah good okay i'm gonna put you two into ramsey plus and financial peace university so you can learn how to handle money we're also kelly's going to hook you up with one of our ramsey certified coaches our ramsey preferred coaches and it's going to be free we're going to pay for it to help you get out of this truck she's going to help you get out of this truck because you're so screwed in this thing if we don't walk you out of it right it's going to double the pain or triple the pain and um so it's not we're not making a dime on this we're going to help you for free i'm paying for all of it because i know how scared you've got to be yeah he's gone on the boat for three weeks out of the four-week month and you're over here trying to fight this stuff off by yourself you're 23 years old and you just moved to a strange town yeah so we're going to love you kiddo we're going to walk with you i'm fussing at you but i'm fussing at them for selling you this truck and you for buying it not because uh because i'm mad at you or something i just i hate the injustice of this in your life and i want to help you get out of it so chris and i'll take care of you we'll do that we'll get you set up with a counselor kelly you can get her set up with ramsey plus as well yeah and the main thing allison is it's not always gonna have to be this way young lady but you guys are gonna have to lock arms and get serious about this and do the ramsey plus stuff together yeah and you people these car dealerships that's immoral for a 22 year old young woman walk on a thing and walk out with a 65 000 truck that's immoral it's just wrong at some point you've got to do business in a way that's that's a blessing to people that's immoral

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Views: 178,607

Rating: 4.9336047 out of 5

Keywords: the dave ramsey show, budget money debt cash, real estate, insurance, how to make money, dave ramsey, save, credit card, compound interest, buying house, buy, snowball, That's Dumber Than a Rock!, cars, leasing a car, car lease, car debt, debt, vehicle, car payments, truck payment, getting out of debt, lease payment, getting out of a lease

Id: 75uqMLPPAVs

Length: 8min 43sec (523 seconds)

Published: Wed Nov 18 2020