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Updated over 6 years ago on . Most recent reply

User Stats

54
Posts
19
Votes
Joseph Gambino
  • Rental Property Investor
  • Mobile, AL
19
Votes |
54
Posts

Sell my personal vehicle that has a lien on it or..

Joseph Gambino
  • Rental Property Investor
  • Mobile, AL
Posted
I have a vehicle with a bank loan and was wondering what you would do in my situation.. Should I sell it to lower my DTI and get out from underneath the monthly payment and monthly full coverage insurance payment so I could proceed with another deal in the next 6 months? Only problem with that though is I have no other extra vehicle so I would have to use my personal savings that I plan on putting towards my next deal to get a vehicle and that would wipe out all of my capital. My plan is to put 20% down on my next deal so the capital is important to me.

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