Sunday, November 1st, 2009

I have insurance money to repair my car but I have a LOT of debt, should I use the money for repair or debt?

Debt Repair
Musik asked:


The car is 2 years old and I am making payments. It’s a Chrysler Sebring and I would like to resell it in a year or two. I’m just not sure if fixing it is worth it in the end for its resale value or if it’s better to pay off high interest debt now.

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3 Responses to “I have insurance money to repair my car but I have a LOT of debt, should I use the money for repair or debt?”

Micki Says:
November 1st, 2009 at 8:31 am

If the car is still running and you can drive it safely, pay off that unwanted debt. Then you can save money to fix what needs to get fixed on the car, or when you are ready to sell it, you can seel it “As Is”

Doctor Deth Says:
November 4th, 2009 at 6:17 pm

if you don’t fix it, you will never be able to sell it or probably for a lot less than you would need to pay off the car loan and and not fixing it could cause other problems between now and then – if car is still financed, might be legal problems if you don’t get it fixed, since bank is losing out too, then

Jennifer Says:
November 5th, 2009 at 2:07 pm

Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate. Icame across this company on NBC News Special Edition.Check it out here:

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