What to do when a family has two car notes and someone loses their job? When life throws you lemons, make lemonade. Everyone lives in different situations and life has a funny way of kicking our butts when everything seems to be smooth sailing. Unfortunately, I have seen it time and again where a person in a household loses their job, someone passes away, or there is a divorce, etc. Now, what if the family currently has two car notes, say for instance, for a combined $600. Without two incomes it will be a stretch for most families to continue paying the notes. What I try and do is help my clients who are in this situation find a solution. For example, could the family manage with just one car? Then maybe we’ll offer to buy the other one so that the debt obligation is gone. Still need two cars? Then I can figure out a situation in which to trade in one or both for a lower payment vehicle(s), sometimes even giving customers cash back if they have equity in their current vehicle. You should see the smiles on peoples faces when you tell them your payment is $100-150 lower a month and oh yeah here is a check for $3000 too. If you know anyone in a situation like this, and they feel trapped, give them my number and I’ll do my best to see if I can help them out of that hole.
Posted on: Wed, 26 Jun 2013 01:58:59 +0000
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