CCC056: Ron Whitson – Beating Debt with a Cash Car or Two

Ron Whtsons 2 Cash Cars

This is a special episode for me!

I’m getting to interview a friend I’ve know for about 10 years. He and I have played tennis with and against each other. His name is Ron Whitson. Ron is a class guy, and it is my honor to call him friend.

Cash Car convert

Ron Whitson is a Cash Car Convert

A while back, I was on Facebook posting about my show. Ron was online and saw the post. He quizzed me about what I was doing. I explained my passion for helping people drive cash cars.

Ron informed me he too was a cash car convert. He further explained he was driving a 2001 Honda CRV with 196,000 miles he had purchased for $2200 cash.

I knew right then, I wanted to have him on my show to share his story.

Being on the ball as I am, he is joining me about 6 months later.

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On the show today, Ron is going to share with us his journey that started in September of 2013 with he and his new bride having 17 credit cards to a couple living on a budget and using a cash envelope system.

What a metamorphosis!

How did he get started? He went to Dave Ramsey’s Financial Peace University.

One night after Dave was speaking about auto debt and its dangers, Ron felt compelled to sell his 2010 Mercedes ML350. By doing so, he eliminated $30,000 of debt. What a nice quick win! Selling the Mercedes also  allowed him to redirect the $493 car payment associated with this car toward paying off more of his debt.

What happened to the 17 credit cards you may be wondering? They were shredded and put in a jar as a reminder of where he came from. When he starts to feel like he is giving up too much or can’t have something he wants, he looks at the jar. Very smart!

Shredded Credit Card Jar

Shredded Credit Card Jar

Ron has estimated by driving his Honda CRV he has saved almost $9,000 in car payments. Oh, and you will be glad to know he only had two repairs in the roughly 14,0000 he drove the car. He replaced a radiator himself for under $100 and had a clock in the interior repaired for about $40. This doesn’t include oil changes and other maintenance items any car would require.

Ron being on a mission to get his debt paid off as soon as possible was looking for a new way to make some extra money. The challenge is he has to travel a great deal for work. He needed to find a job where he could set his own hours. After quite a bit of searching, he checked out Uber. It looked like a good fit save one problem, his car had to be a 2005 or newer.

Obviously his 2001 Honda wasn’t going to work. He started to look on Craigslist just to see what he could find. He found a 2005 Mazda Tribute with 176,000 miles. The purchase price was $3,500. Ron was able to scrape together the cash and buy the newer car.

Next he had to sell his Honda. He sold it in four days and for a $500 profit. It is amazing what you can do when you buy a cash car that has had most of its depreciation already taken.

Ron is just getting started with Uber and has been out about five times driving for them. He has made about $50 each time. This is a great deal for Ron. He turns on his app telling Uber he is looking for a fare and they match him with someone looking for a ride. When he has down time, he watches Netflix with the car turned off. This way he burns no extra gas.

I’m proud of Ron and the progress he is making. I look forward to having him on in the future as he eliminates even more debt from his life.

If you want to  contact Ron to either congratulate him on his journey or ask a question, please reach out to him at ron@ronwhitson.com.

God Bless You!

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