Bear with me, this may be a little on the long side.
I recently came into a hole, hole being in the hole, money being tight. OK, so money is tight for everyone. But I have a few decisions that need to be made that may or may not better the future in the long run.
I have a 2003 TrailBlazer, payments of $475 a month, everything is fine, not a bad payment. But like I said, money got tight, wasn't managed right, yadda yadda yadda. It happens. Not all my fault, yet I am not pointing fingers either.
I am behind on my payments. Behind enough to be in REPO status.:worried:
I use the TB to pull my trailer, which is MY BUSINESS and only source of income. So it the truck goes, no money comes in.
Here is where the trouble comes in.... I can make a payment, 1, but will still be in REPO status. I have to come up with a 2nd payment, somehow, to keep it out os REPO status. I have no idea how too come up with the 2nd payment, I have other payments/bills that need to be made (electric, phone, water, insurance) Things that are needed, not wanted.
I can ask family for the $$, but will still be behind on the payment, which if I go any further, will be in REPO status again. Now, I found a nice little truck, $1k down, payment of $175 a month, $300 less than the SUV. I have half for the down, but again, will need to ask family for the other half.
So I have to either chose between the 2. Ask for the $500 for the truck payment, or $500 for the other truck. Either way, I need help. But I am looking at it from down the road. I do not want to keep the SUV and fall back more and more....just to be in the same position.... Where I can get this cheaper truck, save money on payments, and save the rest....
Now I bought the truck for my Wife to drive, but I use it all day, every day to pull my detailing trailer. So she rarely gets behind the wheel. SO I am wasting money in gas IMHO with the SUV. Where the other truck will save me some gas.
My Wife wants to keep up the payments, and "when" she starts working, I can get a truck for myself, which will be 2 payments....
When I said "when" she starts working, her Aunt and cousin are opening a dance studio, then she will be a dance teacher.... She is "betting" on everything going to plan, which scares me...lol
So, I am looking for suggestions, let the SUV go and get a cheaper truck for now, until everything gets better, or struggle to keep the payments up, and hope I do not fall again. Now, as much as I do not want to let the truck go, if it going to keep my in this position, then I will suck it up like a man, and accept what will go on my Credit report. It happens, and I admit, I will not deny it.
I'm sure there is a few things I forgot to put in there, so if I remember, I will post.
Any insight will be appreciated a million times, as the truck could be taken any time unfortunatly. I need to figure out if I should let it go, or pay and pray.......
TIA and sorry you had to hear me vent my financial problems, I have noone else to talk to about it and I am stressed out.....
Oh, and I just flew my daughter back to her mothers house in Missouri....and they are going to Japan for 3 years..... SO I won't see my daughter for 3 years.......:sadcry: