Should We Sell Our Cars To Pay Off Debt? 

There’s a two prong approach to becoming wealthy. Getting out of consumer debt and avoiding it at all costs. Then building your income. Once you’re out of debt, it’s really easy to save and invest. In life, we have to move forward. If you’re concerned about your family, friends, environment, state of the world, you’re powerless to make much of a difference when you’re broke. You can make a difference from a position of power. I’ve walked this journey. It’s a humbling experience and well worth it!

Ricky Bobby's wife sounds great. His bonuses are from his extended Powerade deal.

“Sell so much stuff that the kids think they’re next!”

I'm shocked that Dave said not to sell the cars. Having all that money tied up and depreciating when they make 160 to 200k is crazy. T Keep the classic 'toy' sports cars and buy two cheap daily drivers for 5-10k each.

Car guys say "life's too short to drive boring cars". I say life's to short to live in crippling debt.

Maybe sell the one that has a loan and buy a cash car for now. Put the payment towards the cc debt.

Almost 200k income and have to sell your cars and have cc debt is plain idiocy

Wow. I'm in a different kind of situation but related to cards. I left my employer to work for myself. During the time of building that I accumulated a few thousand in credit card debt, and I'm preparing to sell my rare 90's sport car to pay off that debt. I do not care that I have owned it for 21 years and it was my first car. I have reached the point that after all this time, I am not where I want to be so it is time for drastic change. I'm a Physical Therapist, so I could easily wait and pay off my credit card debt in probably a month, but I want it gone now. Also the car has reached 31 years old. Repairs are not regular maintenance anymore. So it has reached a point where that car costs me money even when it sits.

Two cars are paid off. So those should not even come into the equation. When they will be making 200k in a few months.

She did say the classic car was paid off.

sell the 40k car w/ 30k owed, buy a 5-10k car. could try the same with the second car maybe for another 5-10k that gets around. thats a possible 20-30k total that could be used towards cc debt with that formula. keep the classic since it may not be going down in value much like the others

She inflated the income to justify those ridiculous cars.

Im betting the answer will be yes 😂 Edit: Ambiguity 😮

I would sell one car and pay off the debt then a year later buy a car again

He better not sell his classic car to bail out BOTH their spending stupidity.

I mean two of the cars are paid for. I'd pay off the third so you have reliable payment free transportation, then start on your debt. One 30k car loan isn't outrageous. That's actually pretty good for today. The cars aren't you're problem. They may have been at one time, but they aren't anymore. Your over that. Your spending too much elsewhere for your income.

By the end of the year we will be in a recession and your raise might not happen. Sell a car now while chips shortage. Stop hoarding lol.

Ramsey crew, yall should review the Netflix show: How to get good with money. It was horrible, the "Experts" treated the symptoms and not the illness. I was yelling "Baby steps" all the way through.

Might as well keep them they are paid off cause your going to have spend more money to get another car

The sports car is not going down in value.

I once had 80 cars but I was also a car dealership. Which is a weird ship to be honest, because on the ocean nobody can drive the cars anywhere.

Doubtful if classic sports car is going down in value - so not on the bubble on things going down in value. Is a toy at this point or a non-retirement investment

Sell our cars to pay off debt? So you havn’t watched the show before…

I hardly would say having a 3rd vehicle is a "car addiction". Smh.

I cant continue living my life anymore being in debt is the worst 2 months ago l was not in debt l used my savings to pay my mom debt 37,000 and brought her a 32,000 brand new car but then had to use my credit cards to pay for a family emergency expenses in june and now lm 38,000 in debt my score of 824 drop 697 l am sad crying and l am making payments but this is just horrible

What is her income? It sounds like he is the only one working.

What is your definition of broke? It's always interesting what people say their definition is so they can feel ok. Nobodys broke even though 80% of people are in debt and 64% of people live paycheck to paycheck. We always make definitions to make us feel ok.

You don’t get rich buying cars. Jay Leno: am I joke to you?

just start paying the cars off easy. you will have to buy a car anyways again

It's probably worth --"right now"...no mam we would like to know what your car was worth 10 years ago and what will be worth 10 years fr now ,,we don't care about the situation TODAY that you are calling for ...some of these calls are just cringe

Cars, specifically certain classics and even modern cars are going up, not down.

I would dump the classic sports car.

The problem I’ve got with Dave Ramsey is that he doesn’t practice what he preaches. He became wealthy by exploding his income. He never achieved it by avoiding debt and investing in index funds and cutting back on consumerism.

I want to buy her car.