Looking to be financially independent faster? Learn how you can dump the car loan and find and buy an affordable and reliable car.
Car Loans and Wealth
Besides housing, one of the biggest expenses many American families have is transportation. While some cities have excellent mass transit systems, having a car payment can take a healthy chunk of your money.
Auto lending topped a trillion dollars for the first time last year.
The average monthly payment for a new car is just shy of $500 while used one will set you back about $360. If you’re a two car family, your payments can be sucking your finances dry without giving you much.
If you really want to become financially independent faster, dumping your car loan can be an effective way to ramp things up.
Downsizing to one car might not be an option for you now, so you may be wondering where you can find a good car for a great deal?
Selected Links from the Episode:
If you’re looking to get rid of your car loan faster, here are some resources to check out:
- How to Buy a Used Car (Without Getting Ripped Off)
- The Man Who Gets His Cars for Free
- How To Pay Off Your Car Loan Faster
- Digging Out From an Upside Down Car Loan
- Top 10 Cars for Smart People
- Car Payments Are NOT OK
Dump the Car Loan Show Highlights:
- The High Cost of Car Loans
- Finding a Reliable Car with Going to the Dealership
- Which Cars are Hidden Gems