REVscene Automotive Forum - View Single Post - Student loan repayment... sell the car? grind it out? your advice is appreciated.

Jmac · 06-03-2015, 03:05 PM

I assume he will still need a vehicle to get to and from work, unless you can point out the Skytrain route in Fort St. John.

Also, selling the car for $17k (if he can even find a buyer around FSJ at $17k) wouldn't bring his interest payments from $251 to $0.

If he sells the car for $15k, buys a reliable, fuel efficient car for $5k, that allows him to put $10k towards his debt, +$100/month from fuel savings, and possibly a little extra from maintenance.

06-03-2015, 03:05 PM	#28
Jmac Willing to sell body for a few minutes on RS Join Date: Aug 2004 Location: Duncan, BC Posts: 10,128 Thanked 5,568 Times in 2,107 Posts Failed 231 Times in 90 Posts	I assume he will still need a vehicle to get to and from work, unless you can point out the Skytrain route in Fort St. John. Also, selling the car for $17k (if he can even find a buyer around FSJ at $17k) wouldn't bring his interest payments from $251 to $0. If he sells the car for $15k, buys a reliable, fuel efficient car for $5k, that allows him to put $10k towards his debt, +$100/month from fuel savings, and possibly a little extra from maintenance.