How to Get Rid of Your Car Payment and Pay Cash for Your Next Car

How to Get Rid of Your Car Payment and Pay Cash for Your Next Car

Remember when your car was a symbol of your independence? Having your own set of wheels meant having the freedom to go wherever and do whatever you wanted.

As an adult, your car is essential to everyday life. It gets you to work, your kids to school and your errands accomplished—all day, every day. But you probably don’t see your car as an emblem of your freedom anymore. In fact, your car may sometimes feel like an anchor weighing down your budget and keeping you from reaching important money goals.

We often accept that life with a car payment is an unbreakable cycle: If you want to drive, you have to pay the price, right? But it’s a myth, and you don’t have to accept it!

With smart budgeting, it is possible to get rid of your car payment and save up to pay cash for your next car. How can you do it? Let’s start by taking a look at everything that goes into your transportation budget.

Read More
big car payments

Do You Owe Too Much on Your Car?

We love cars. Maybe that’s why we pay so much for them.

The average new car payment in the U.S. is roughly $483 per month, according to Experian Automotive. But it’s a necessity, right? We have to pay nearly half a grand each month to drive to work and school and the grocery store and . . .

Okay. Wait. Yes, reliable transportation is a must. But buying a brand-new, plug-in hybrid is not.

If we’re being honest, many of us don’t buy the car we want at the price we can afford. We buy the car we want at the payments we can afford. Big difference.

Read More

page 1 of 1