brought to you by CHM, a biblically based alternative to health insurance. Learn more at CHMinistries.org.com. I recently found some of your videos scrolling Facebook and started listening to some of your stuff. I haven't done any of the things that you talk about, but I'm trying to get started.
I recently bought a truck. It was a horrible decision that I didn't know better at the time. And I'm a prime example, just because you make more money doesn't mean you fix the problem. If you don't know how to spend it, because I doubled my income three years ago and celebrated in the truck payment.
I did. And I've just steadily gone downhill. And I've been trying to sell it, but I was a little bit more than this work because I took the hit of the appreciation on brand new truck. Man, what did you pay for that truck?
Over 60 grand. That's my name. No money down. Man, oh man.
I was raised at credit with everything. And I've worked my butt off, had really good credit and it's done nothing but for me. Well, I have an opportunity because the trucks are limited. And Toyota Corporation is going to have buy a bike.
However, the state I'm in has a 20 cents per mile deduction for depreciation. And that's going to mean I have to pay a little bit over eight grand just for them to buy them alone. I don't have a grand signal bank. That would be a loan that I'd have to get just to get out of this law.
But you would be trading an eight grand loan for $6,000. Yeah, I got like $46,000 on it. Yes. Okay.
I have a credit. I go to the bank to sign the payment and get a signature law. Great. It's just the right move.
And then they pay off the loan or they take the truck. They pay off the loan and take the truck. So did you sell your truck for $46,000 then? Could I know I've had it for $46,000 for a while?
Oh, okay. All right. So it's not what's it worth? It's last time I looked, it's about 40 trading, I think, the mid 30s, the value plummeted only thanks for all the recalls on it.
And it just healed the value of these trucks. So they're you're getting a better deal selling it back to them. I think so. Yeah.
It's just not trying to try to. Yes. I would rather be $8,000 in debt than $46,000 in debt. It's similar to what we would tell anybody if they were upside down in a car, we tell them to the bank, get a loan, clear the difference and get something in cash.
And this is very similar to that. So the only difference is your buyer happens to be Toyota. Yeah. Yeah.
Okay. And how quick is it all that's coming through? I have a bunch of documents I have to get together and sent them to get an offer to find out what they're actually willing to place in the truck. But it'll probably be the first week or so of anywhere.
Oh, so that'll cut you a check pretty quick. Then yeah, they're going to cut it to the bank. That's what I mean. I got to pay the difference.
Yeah. Yes. I would do that deal. Yeah.
And you might have something I don't know, just talking to you, you might have something laying around that you could sell to get the money to clear the difference without taking out a loan. Just a thought. And you got to have to get a little truck or something, a little $5,000 or something to get around in. Oh, no, that guy sounds like he's got a lot of little things with engines laying around that he could sell.
Just kind of got that feeling now. CHM isn't health insurance. It's a health cost sharing ministry. Check it out for yourself at CHMinistries.org slash budget.