Sell it for what you can get for it and make up the difference, it's the
cheapest way out of it and the Edge will never be worth more than it is
worth right now.
Just my 2 cents.
Rascal
-----Original Message-----
From: owner-dakota-truck@bent.twistedbits.net
[mailto:owner-dakota-truck@bent.twistedbits.net] On Behalf Of Valentin
Garcia
Sent: Tuesday, August 03, 2004 10:18 PM
To: dakota-truck@dakota-truck.net
Subject: DML: OT: Trade it or eat it?
Sorry for the OT post, but I think between all of us in the DML family,
we've done it all or know someone who has.
Situation:
I co-signed a loan for my brother (Ford Credit) back in Oct of 02. Well
things have been finacially difficult for him for the past 6 months. I have
been helping him make his payments and covering his insurance, but now he
has a baby on the way and as it stands he is giving me about 90% of his pay.
I told him to let the truck (03 EDGE) go and let me take the burden. Well
after about a month of deliberation (and nagging from his girlfriend/fiance)
he is gonna give it up. They have her truck and her parents are gonna buy
them a cheap car.
Problem:
Should I call Ford and tell them to come pick it up (voluntery repossesion)
and have my credit jacked for the next 7 years, or try and trade it in and
have 3 car payments? Financially my wife and I will be okay, providing we
don't lose our jobs, have a kid, get divorced, etc. My Dak has 2 years and 2
months left on her, Her Neon is being used as collateral for the next 3
years, less if we up our payments. The Edge has 3 years and 4 months left on
it. I don't want to keep the Ford, but I am unsure on whether to trade it in
or Kill my credit for 7 years. Help me!!!!!
Any and all advice is appreciated. TIA!
Val Garcia
Houston TX
2K2 SXT RegCab 3.9L V6
Graphite Metallic
Flowmaster Deltaflow 40 series
Intense Performance Stage II Intake
Extreme Velocity Airhat
This archive was generated by hypermail 2b29 : Wed Sep 01 2004 - 00:53:40 EDT