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 and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
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!