When you get divorced as a stay at home mom it’s an understatement to say that your life gets turned upside down. Everything that was once stable is now on a active fault line that is ready to rock. For me this was horrible, we had one car in our family (as my ex works from home) and it was under his name. When he left he did buy another car but that meant I was responsible for the old one (it’s name is speedy, my kids picked it out) this was terrifying. Even though I had a phenomenal credit score (800) I had no income! No income = no loans, even for speedy which is a 2012 Sonata and only had a $4,000 loan attached, I could not qualify for a loan without a cosigner. My ex refused to co sign and I did not what to have to ask my dad. So I talked with my ex and asked him if as long as I made the payments could he carry the loan until I had 4 months of work under my belt, he agreed. So I worked paid the loan and eventually went to my bank and got it refinanced and had my ex taken off. Speedy was officially mine!!
Well not really, to get this loan they stretched out my payments to another 5 years! This was hard because for years I (and my ex) had actively worked to get ahead on our payments and we were on track to have it paid off ASAP. The monthly payments were low but with my budget that was really all I could put on it, a couple of months I was able to put more more towards this but it was the exception not the rule. So in the last 6 months I have made my payments and in turn have gotten the loan down, I had accepted that it may take me 3 or more years to officially own speedy and it was okay.
Well it is tax season!! And I am more than happy to report that once I get my return I will officially own Speedy!!! The best part is that he has only 77,000 miles (I know it’s a lot living in NH requires lots of driving) and I have a bumper to bumper warranty until 100,000, so hopefully if anything is going to go wrong it will happen before the warranty is up.
Life has definitely had it’s up’s and downs lately (more of that in a future post) but this is an official up. The goal once I have the title in hand is to put that payment into savings and start to grow that. Little by little I know my finances will get in order and I will be better off financially than I was while married.