'What Were You Thinking At The Time Of Purchase Here?' 'Ramsey Show' Host Questions $40K Truck On $65K Salary — And Says He Wouldn't Drive It

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One monthly payment kept getting in the way of a North Carolina family's plan to finally get ahead.

Austin told "The Ramsey Show" that he and his wife were trying to save their first $1,000 emergency fund while working toward becoming debt-free.

"What were you thinking at the time of purchase here?" co-host George Kamel asked after hearing Austin owed nearly $40,000 on a truck while making about $65,000 a year.

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Austin said his Chevrolet Silverado carried an $880 monthly payment, with just under $40,000 still owed on the loan. The truck was worth about $33,000, leaving him roughly $7,000 underwater if he sold it.

He bought the Silverado after the vehicle he drove to work "blew up," sending the family to a dealership for a replacement.