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An unexpected car repair threatens to set the Bradleys back thousands of dollars. The transmission on their BMW fails, depleting the value of the car to $5,000—and the Bradleys still owe $15,000 in payments.

Instead of dealing with costly repairs, the Bradleys discover they can accomplish the goals set forth in Step 6 by selling some of their assets. With the help of Crossroads Ford in Raleigh, North Carolina, LendingTree.com and RoadLoans.com, Lisa and Steven sell their BMW and SUV and purchase a new Ford Explorer—a decision that will save them $400 a month on car payments.

Lisa says she's excited about more than just the savings. "I feel like this is one of the first big decisions Steve and I have really made together and been on the same page," she says.
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FROM: The Debt Diet: Part 5
Published on January 01, 2006
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.

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