Should I sell my car?
I’ve had a past of very poor judgement when buying cars. Bought a Tesla back in 2021, put many many miles on it quickly, and the battery shit itself at 177k miles. It was $15k to fix it immediately and I thought it wasn’t worth it so I let the bank take it. I thought I was just unlucky, but apparently this is common with Teslas. I got another one (without knowing about the 200k mile thing) with much less mileage on it, and I don’t really drive far anymore. I still owe a good amount on it, and it’s at %15.67 APR for 7 years.
I never knew selling your car to get out of the loan was always an option. I can get rid of the car if I pay $7k. I was thinking of getting some POS off fb marketplace, but would I be in the shop often? And how much would gas be?
I could always trade-in next year, but that wouldn’t rid me of horrid rates of APR because my credit is absolutely horrible.
Sell the car and save up to pay off debt? Or use this shit loan to help my credit a little?