Dad sold me his 2003 Focus with 250,000 miles when I hit an elk in 2007. I was supposed to make payments, but didn't have stable work until I joined the Army in 2008.
I think that I made double payments once I shipped out.
He didn't charge interest.
I received a $30,000 sign-on bonus. The first installment paid off my credit cards. I used to periodically wonder where the rest went, but I don't know that I could figure it out again. I do remember paying down my student loans by $14,000 (and paying $7,000 in interest, since nobody told me about Active Duty deferment).
$3,000 for a car that I didn't have anymore.
$7,000 for stuff that I bought with my credit card that I didn't have anymore (I probably paid bills, like repairs for other cars that I didn't have anymore).
$14,000 in student loans (while accruing $7,000 in interest superfluously)
Due to taxes I actually received $25,000, so 96% of my bonus paid off my personal debt.
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"Oh if you use math, reason, and logic you will be hated."--OilPan4
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