To Sell or Not to Sell

[pedigo78]

Ok, general question if you had some debt would you sell your truck to pay it. Me and my wife have a few credit cards we want to pay off, we both kinda brought up the idea of selling Big Blue as a matter a fact to such in fact I have a guy willing to give me 6 grand for it. Although if we tight up the budget and be responsible we can pay of off in about 8 months. I am having a real problem actually selling the truck. Plus selling my truck that is paid for doesn't teach us anything, except when we get into a sticky situation to sell something. What I think we need to really do is work on our discipline and work hard on sticking to a budget. Please let me know what yall thing. What would yall do?

[zieg85]

Tough question.  If no one is taking the house and it is just debt that can be taken care of, keep the truck.  You probably could not replace it for that.  If you have no attachment to the truck than sell it.  I try not to get to attached to anything, keeps the emotions out of it.  My junk has been paid for through the many years of doing this hobby but if I had a buyer, I'd sell it all in a heart beat.

[flips87c30]

I would keep the truck. Try to look at it as debt vs assets. the truck is paid for and from what im reading is valuable enough to cover your debts. So your really not in bad shape. If you can, pay off the cards keep the truck and youll be that much further ahead. In the end this is a very personal decision. Good luck 

[454Man]

Id sell and with the left over money do it all over again... Life is short have fun. :-) my wife wants me to sell mine and get a blazer, so us and the teen can ride with the top off.

What's under the hood??? If you have to ask maybe we shouldn't race...

[Rich84]

Cut up the credit cards..Keep one for emergencies, hotels, rental cars etc..
In four months your debt will be cut in half and you will still have the truck that you are not too sure you want to sell. Would be a real bummer if you sold your truck payed off your debt and in a year you were charging again accumulating more debt...Just my .02

[pedigo78]

KEEP IT!!!

[KWKENUF]

Selling the truck to pay them off is just taking care of the symptoms.  You need to take care of the cause,  that being...   Why are you racking up credit card debt?  That is rhetorical,  so you don't need to answer.  I highly recommend Dave Ramsey's Financial Peace University.  I was a counselor for a short while. 

Don't just tighten up the budget and be responsible to get rid of this particular credit card debt.  Do it for good and change the way you live your life!  You will be so happy you did!  As Ramsey says...  Live like no one else,  so later you can LIVE like no one else!

[Captkaos]

that will be a temporary solution to a permanent problem.  If you go the route of selling to get out of debt that is good, but where is your money going now and where can you cut back to apply to the current debt?

[pedigo78]

Yup I agree. So truck is staying.