She wants us to pay $290 a month over and above the $1500 we are planning on giving her next month. She says that she has to have enough to cover the payments (which are $290) each month. Well, plain and simple, we can't afford $290 over and above the insurance on the Trailblazer and the Cavalier.
I have been trying and trying to explain to her that we could have the SUV paid off by August of next year, if not sooner.
I just sent her a message in my last attempt to get her to understand that this can work.
This is the message I sent...
"If I take out the loan, I will be getting $1500 a month from now. We could give you that, which would be enough to cover at least 5 months of payments, plus we could give you $100 each month in addition to the $1500 we would have already given. By the time the original $1500 runs out, we will have the next installment of $1500 in January, which would cover 5 more months of payments. I will also receive money from my Pell Grant in January because I will be taking enough hours to draw from it, so we would be able to add another $500 installment.
So, by the end of January, we will have paid $4000, which would be well more than enough to cover the $1740 worth of payments between now and January. There would still be $2260 left over, which would cover another 7 months worth of payments.
We would continue to pay the $100 during those 7 months, and one of those months we would pay $170, so at the end of the 7 months we would have the suv completely paid off.
And this way, we would never be short on a payment. Plus, anytime we had extra money, we would put it toward the suv, so that we could try to pay it off even quicker."
I hope that makes sense. I have gone over the numbers time and time again. I know they are right.
Yet, she refuses to understand how this will work. She keeps saying it won't, and that she has to talk to her husband. I am certain that we could have this completely paid off in a year without missing or being short on a single payment. The numbers are right. But now she's saying that she's not sure she wants to sell it to us because she's not sure we can make the payments. I mean, really?? I have laid it all out, so I hope this breaks through to her.
Again, I refuse to take out a loan if she's not going to actually let us buy the SUV. I have to finalize the loan by Monday. If she doesn't give us a definite yes or no by then, we won't be getting it :( I'm stressed beyond the max now!