₦airaland Forum

I bought a car last year and now things has been really rough for me, and the worst part of it all is that I'm in debt of almost a million naira,

I'm married and all my money goes to expenses in feeding, I can't save, and business has been bad this period.

I'm thinking of selling My car, to pay off my debts and probably use the other money to reinvest in my business. (this is a business I can make up to 800k or more monthly)

Right now I don't what to think, my son will soon start school, and my rent will also expire very soon.

So I'm thinking of selling the car and using it to invest in my business

So sorry about your predicament, chief.
The inflation is unbelievable.

Have you thought of applying for Uber or bolt as a source of extra income?

The challenge with selling the car is that if you sell it, you'll have an influx of cash which, if not properly managed, will finish faster than you anticipated.

Sell it bro....

Anything that doesn't give you peace of mind and is equally affecting your finances should be considered a red flag and should be cut ties with...

As a matter of fact, I'm personally having similar issues and I'm considering cutting ties with my Keke so that I can invest the funds into my business... As I'm typing this,it's already for sale and there's no amount of advice anybody will give to me that will make me have a change of mind......Cuz I'm the one who's on that shoes,and I know how heavy it has been for me.....so I'm letting it go , without having a second thought.

PlasmaTV:
So sorry about your predicament, chief.
The inflation is unbelievable.

Have you thought of applying for Uber or bolt as a source of extra income?

The challenge with selling the car is that if you sell it, you'll have an influx of cash which, if not properly managed, will finish faster than you anticipated.

Sometimes Uber not profitable as said
He owns a business that means
No time for Uber
Let be honest
Meanwhile the question is
Is there any buyer and which business can give you 800k monthly

PlasmaTV:
So sorry about your predicament, chief.
The inflation is unbelievable.

Have you thought of applying for Uber or bolt as a source of extra income?

The challenge with selling the car is that if you sell it, you'll have an influx of cash which, if not properly managed, will finish faster than you anticipated.

My car is not something I can use for bolt because of the fuel consumption, I've thought about it before but it won't be profitable for me

Sonnobax15:

Sell it bro....

Anything that doesn't give you peace of mind and is equally affecting your finances should be considered a red flag and should be cut ties with...

As a matter of fact, I'm personally having similar issues with my Keke and as I'm typing this,it's already for sale and there's no amount of advice anybody will give to me that will make me have a change of mind......Cuz I'm the one who's on that shoes,and I know how heavy it has been for me.....so I'm letting it go , without having a second thought.

So far the car isn’t giving me any issues, it's just that I have urgent need for money and I also have a family to feed

Sonnobax15:

Sell it bro....

Anything that doesn't give you peace of mind and is equally affecting your finances should be considered a red flag and should be cut ties with...

As a matter of fact, I'm personally having similar issues with my Keke and as I'm typing this,it's already for sale and there's no amount of advice anybody will give to me that will make me have a change of mind......Cuz I'm the one who's on that shoes,and I know how heavy it has been for me.....so I'm letting it go , without having a second thought.

The question is
Is there any buyer
Most buyer will pay in installments
I have a car for sale since 2021 parked
Right now am thinking of repairing it and start using my property

Racheal45:
Sometimes Uber not profitable as said
He owns a business that means
No time for Uber
Let be honest
Meanwhile the question is
Is there any buyer and which business can give you 800k monthly

I glossed over the 800k monthly part cos I find it to be a bit unrealistic.
If the OP truly makes 800k monthly, then selling the car to reinvent in business is a no brainer.

funkmrflexx:
My car is not something I can use for bolt because of the fuel consumption, I've thought about it before but it won't be profitable for me

If the fuel consumption is much, have you considered downgrading it a bit?

For your family, having a car greatly eases your life. You can get a smaller car that won't guzzle so much fuel and use the profit from the sale to offset some expenses.

funkmrflexx:
So far the car isn’t giving me any issues, it's just that I have urgent need for money and I also have a family to feed

. Bro,that car is a liability......In fact, having an asset that doesn't equate to putting food on your table is a total liability....Quote me anywhere....... sorry to say this,I've a friend who was on similar shoes like you about two years ago,the best thing he did was to sell off the car and he invested it on his business...........

I know the kinda feeling you're having...like what would people say when they find out you've sold your car.......Bro, nobody gives a Fvck about how you live your life....... I've already said enough and I don dey feel headache self........

Racheal45:
The question is
Is there any buyer
Most buyer will pay in installments
I have a car for sale since 2021 parked
Right now am thinking of repairing it and start using my property

. You haven't found the right channel to help you put it on sale....... having an asset like a car that you aren't using and you're still hungry and broke doesn't make sense to me at all . Sell it off

funkmrflexx:
I bought a car last year and now things has been really rough for me, and the worst part of it all is that I'm in debt of almost a million naira,

I'm married and all my money goes to expenses in feeding, I can't save, and business has been bad this period.

I'm thinking of selling My car, to pay off my debts and probably use the other money to reinvest in my business. (this is a business I can make up to 800k or more monthly)

Right now I don't what to think, my son will soon start school, and my rent will also expire very soon.

So I'm thinking of selling the car and using it to invest in my business

Go ahead and sell it since you can no longer maintain it.

Your reasons are cogent

I will advise u not to sell the car...this is because if u want to get it back, it would cost u x2 or more of the current price considering the rate of inflation.

My 2cents
Look for where to borrow money, either from banks or cooperatives that you can pay in instalments. Plough it into the business and see how to revive it, while using the proceeds for family expenses and loan repayment until u stabilize.

@OP, @Rachael45 what is your car make and model.

PlasmaTV:
I glossed over the 800k monthly part cos I find it to be a bit unrealistic.
If the OP truly makes 800k monthly, then selling the car to reinvent in business is a no brainer.

To be honest
That has been my question

Sonnobax15:

Sell it bro....

Anything that doesn't give you peace of mind and is equally affecting your finances should be considered a red flag and should be cut ties with...

As a matter of fact, I'm personally having similar issues and I'm considering cutting ties with my Keke so that I can invest the funds into my business... As I'm typing this,it's already for sale and there's no amount of advice anybody will give to me that will make me have a change of mind......Cuz I'm the one who's on that shoes,and I know how heavy it has been for me.....so I'm letting it go , without having a second thought.

What's the shelf life of the keke and how much do you intend to sale it... I'm in Udu Rd

Emu4u2c2:
What's the shelf life of the keke and how much do you intend to sale it... I'm in Udu Rd

. 3 years........ I'm in Ughelli......you can hit me up for my num if you are interested...

Sonnobax15:
. 3 years........ I'm in Ughelli......you can hit me up for my num if you are interested...

Okay so how do we share contact?

Emu4u2c2:
Okay so how do we share contact?

let me quote you on a dead thread.

Emu4u2c2:
Okay so how do we share contact?

. Nairaland just banned my other account bro........you can DM me so that we can share contacts from there..

APC and tilumbu have finished Nigerians

May God bless and keep all of us who do not support APC and their apparatus of death

funkmrflexx:
I bought a car last year and now things has been really rough for me, and the worst part of it all is that I'm in debt of almost a million naira,

I'm married and all my money goes to expenses in feeding, I can't save, and business has been bad this period.

I'm thinking of selling My car, to pay off my debts and probably use the other money to reinvest in my business. (this is a business I can make up to 800k or more monthly)

Right now I don't what to think, my son will soon start school, and my rent will also expire very soon.

So I'm thinking of selling the car and using it to invest in my business

For a man to talk like this means that madam is a liability.
In a situation where your wife is up and doing I believe this scenario won't ever play out.

The best decision you can ever make is to marry right.

Don't marry because of present rosy situation but for tomorrow sake. That's my understanding.

PlasmaTV:
I glossed over the 800k monthly part cos I find it to be a bit unrealistic.
If the OP truly makes 800k monthly, then selling the car to reinvent in business is a no brainer.

He said he can not that he is presently making that.