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If You Care About Money, You Need To Think About Your Car Situation
This article will review 8 lessons on cars and money that you can dive into to help you make more informed decisions about cars and money.
Lesson 1: The Wretched Truth: You Can’t Afford Your Car
Unfortunately, most people can’t afford the cars they drive. Learn about the 1/10 rule to determine if you can afford your car.
Read more: here
Lesson 2: To Buy Or Not Buy A Luxury Vehicle
To Buy Or Not Buy A Luxury Vehicle
Do we need luxury vehicles? No. Should we buy luxury vehicles? Up to your budget. Be prepared for the maintenance and repair costs that come along with it, though – something many people forget [see lesson 5].
Read more: here
Lesson 3: I Paid My Car Off In 3 Years Vs. 6
Just because you sign a five or 6-year car loan doesn’t mean you have to wait to reach the final year of the loan pay it off. Pay off your car loan early, save a ton of interest, and get back some mental peace.
Read more: here
Lesson 4: What I Learned Buying My 1st Car
I learned several invaluable lessons after buying my first car. Some of them cost me, but I would make the same decision all over again. I got lucky, and it all worked out.
Read more: here
Lesson 5: The Easiest Way To Tell Someone Can’t Afford Their New Car
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People buy new cars but often can’t afford the maintenance and repair fees.
Read more: here
Lesson 6: If You Can’t Afford To Pay Cash For A Car, You Can’t Afford It
Though you can finance a car and afford the monthly payment, if you can’t afford to buy the car with cash, don’t fool yourself, you can’t afford the car.
Read more: here
Lesson 7: People Keep Telling Me To Buy A New Car
People Keep Telling Me To Buy A New Car
Even if you can afford a new car, it doesn’t mean you should buy one. Cars are sitting burning cash. They’re one of the best examples of a rapidly depreciating asset.
Read more: here
Lesson 8: I’m Still Driving The 1st Car I Bought 10 Years Ago
Learn the reasons why I’m still driving the same car after a decade, even though I can afford to buy a new vehicle. I’m driving my decade+ old car into the ground.
Read more: here
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.