Transcription
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I made a big mistake. Bought my daughter a car. Yes, I've made many, but this is huge. Last September, and it was contingent upon her getting herself together, her FICO high, all that good stuff, and then putting it in her name. It's almost a year she hasn't done that. She's getting fasttrack tickets. That's like a toll bridge thing. And her insurance is not covered by anyone other than mom. And I'm becoming inundated with this. And I feel like I'm ready to do something drastic just to pay off the car and just give it to her.
>> Um, how much is the car?
>> 27,000 approximately.
>> Okay.
>> And is it in your name, Rachel?
>> Yes, ma'am. It is. Yes, ma'am.
>> And And the loans in your name? Everything?
>> Yes, ma'am. Dummy me. Yes. So, let me ask you, wait a minute. The the the agreement was
>> that she was to uh arrange to get the car paid off and put it into her name and she's done been unable to do that because of her irresponsibility. Is that what you told me?
>> Absolutely. Pretty much.
>> How long ago? And that was a year ago.
>> Yes.
>> And things have gotten a little bit haywire now because these tickets have come.
>> Registration is going to be more than expected. Yeah.
>> And and
>> you know, I I would just call her and have her I She lives in your area, I assume.
>> Yes.
>> Yeah. I think you need to sit down with her for a cup of coffee and say, "Honey, you know what? I love you and I'm so sorry. I I thought I was doing something nice for you and this is a curse to you. It has really messed up your life and I'm so sorry. Hey, we're going to fix it. We're going to sell that car."
>> Well, she has three children, my grand so she has to have transportation. I don't care.
>> I know.
>> She does not need a $27,000 car and she's irresponsible and she didn't follow through on what she said.
>> Are you a multi-millionaire?
>> Absolutely not. I'm going to start working for you guys and become one, though. How about that? That's another story.
>> Okay. But
>> you don't have the money. You don't have the money to throw around 20. You don't have $27,000, do you?
>> No. But you know what? This is the crux of the question. I am 61. I'm going to get my social security early next year. Even though that may not be the smartest thing to do, but I have a home, so I was either going to get um a heliloc or take the lump sum from my employer. Just be done with
>> Sweet Girl, you made a mistake. Undo the mistake. Don't keep doing it.
>> I know.
>> What you did was not a blessing to your daughter.
>> To the grandchildren.
>> You didn't help your daughter.
>> You hurt your daughter.
>> You put her in a situation where she can't afford a car. Well, actually, when I went to the
>> Honey, she can't afford the car.
>> No, she can't.
>> She can't afford the tickets and the registration. She's not taking care. You can't afford the car. Nobody can afford the car. The car needs to go away. It's not a blessing.
>> She got to transport the children.
>> Honey, we might get a $5,000 car.
>> Yeah, she's a single parent.
>> Honey, she can get a $5,000 car. Single parents do it all the time. So maybe,
>> but you're not blessing her. You're not blessing those kids. You're putting those kids mom in a trap
>> and she can't swim. She's drowning because of you.
>> Well, she does it monthly.
>> Stop it. Quit rationalizing it. It was a dumb butt idea. Quit doing it. Stop it.
>> Okay.
>> Love your daughter better.
>> Okay.
>> Sit down with her. Say, "I made a mistake, honey. for selling this car and we're going to figure out a way to get you a little $5,000 car to cart those little kids around and get yourself up on your feet, kiddo. Cuz guess what? That's what you did,
>> right?
>> You did the same thing. And nobody gave you a car you couldn't afford drowned you in it.
>> You're like somebody swimming and you hand them an anchor.
>> How do I sell a car that's being financed?
>> You sell Okay, now we're getting somewhere.
>> Yeah. Go on Kelly Blue Book, Rachel, okay? And put in all the information and see how much the car is worth. You owe 27. There's a good chance you're going to be underwater on this car. So, the value of the car, let's pretend it's at $24,000 that you can sell it for 24,000. That means you have you're going to ow you have $3,000 that you have to find. So, what you could do is go down, get a $8,000 loan from a credit union, give your daughter the $5,000 if you want to get her the $5,000 car, $3,000 for the difference, and be done with it. And
>> you pay off the $8,000 for your mistake.
>> And then you pay off the $8,000 of that loan.
>> But here's the thing. When you're trying to bless somebody and you do it wrong, you don't bless them, you curse them. And that's what you did. You didn't mean to, honey, but it's what you did. So, you need to undo it.
>> CHM isn't health insurance. is a health cost sharing ministry. Check it out for yourself at chmin ministries.org/budget.