good afternoon frugal friends…
i have a question:
oldest dd [ today 22 ] bought a brandnew chevrolet cobalt last year. father in law went with her and co-signed. she only had a part time job, was going to college and still living at home. she had car payments of 280$ and insurance of 175.
i would have loved to knock some sense into her noggin… but FIL went with her. and we had no idea until she came home with the car.
in the meantime shortly thereafter she got pregnant. quit college and is now living with BF + his parents.
today is her birthday and she came over and asked how she could get out from under the car payment. i think that is a smart move, since between the 2 of them they have nothing. and they do not need such a big expense to the tune of 500$ a months.
anybody having any good suggestions how to do this, without messing with my inlaws superior credit rating?? she does want a car, just not all the expense. had she spoken about 6 weeks ago, we would have taken over payments and bought the car, but husband went and bought a different car
i will print out all answers and give them to her . she can then choose what to do.
THANK YOU !!!