by Hope
I have a viable offer for the van! The problem is the loan amount and the sale amount…well, they are farther apart than I’d hoped, but I’m confident this could be the best offer I will get. So right now I’m working with my banks to see if I can get a lower interest personal loan to pay the difference between the sale price and the loan.
Selling this van would immediately cut $1000 out of my monthly obligations…which in my mind more than makes up for the couple of hundred dollars a small personal loan would cost per month.
I don’t know if I’m going to be able to pull it off, if the buyers will wait to see if I can…but the opportunity has filled me with hope, that I really, really could make some significant progress to being debt free before the end of this year!
Just thought I would drop in and share this exciting possibility.
Updated: I received word from the bank this morning that they will give me a personal loan to cover the negative equity in the van. Wahoo! I’ve contacted the buyer with the news and am waiting to hear back. Please pray…the sell of this vehicle would be a GIANT leap towards my debt payoff.
Hope is a resourceful, solutions-driven online business manager with over two decades of experience helping clients streamline operations, manage projects, and grow their businesses through digital marketing and technology.
But life has a way of rewriting your plans.
A year ago, Hope made the decision to move in with her aging parents full time – a season she wouldn’t trade, even as it came with its own financial and emotional weight. Earlier this year, she lost her mother, and is now walking the tender, disorienting path of grief while learning what “forward” looks like from here.
Hope came to the Blogging Away Debt community in 2015 as a single mom raising five foster and adoptive children. She’s written through job changes, financial setbacks, and the bittersweet transition to an empty nest. Her kids are finding their footing in the world now – and so is she.
Rooted in faith and fueled by the same perseverance she’s brought to every hard season, Hope is ready to face her finances with fresh eyes and an honest pen. She believes that clarity, courage, and community can change the trajectory of anyone’s story including her own.
She lives in Austin, TX with her dad, loves adventures with her dog Addie, and is figuring out, one step at a time, what this next chapter is meant to be.
Awesome. If you have your loan through a bank or credit union with a physical location that will ease the buyers nerves. Check into the personal loan and make sure to discuss any prepayment penalties (because I know you will pay off sooner then they give you!).
If you can do entire transaction: take cash, get title, sign over car, and start new loan in one visit it would work perfectly. Rooting for you. Love that you are not afraid of huge changes and taking on challenges!
Good work, almost done with the car now! Hoping you will easily and quickly get the pay off loan.
Nice job, Hope! Fingers are crossed and prayers have been said that everything works out!!
Good luck! Fingers crossed!
That’s great! I hope it all works out!