Got your attention now didn’t I?
Did you know that the average American family owes approximately $900 a month in car payments?
Kind of crazy isn’t it. And it’s not $900/month toward an “investment”. That money will never be recaptured. Rather we pay $900 a month for the privilege of driving a newer car every month.
We’ve been programmed to think that it’s expected. A car payment is a fact of life.
Right?
That’s what Mark and I thought for years while we traded up and traded in cars over the first six years of marriage.
Want to know a better way? How about free cars for life? Watch this video, but then finish reading for a few final thoughts.
So what’d ya think? Totally makes sense doesn’t it.
But here’s what we found. In the midst of redoing our budget, cutting unnecessary expenses and driving debt-free cars we realized we don’t need a $26k car. We don’t even need an $11k car.
You can find good, reliable, low-mileage (60-8ok) cars for anywhere from $3,500 – 7,500.
And the difference?
Save it, invest it, give it away.
It’s up to you!
If you’re really dedicated, maybe you can join the Junky Car Club 🙂
We’ve seen this scenario before, and are just in the beginning process. Our cars are now paid for and we are paying ourselves the car payment.
Using this guide, how long do you pay yourself that car payment before you can start earning enough interest in your account to stop paying yourself the $400 every month?
We’re excited to be on the road to being free of car payments . . . but it still seems a long way off!
I’m so glad God brought you and FPU into our lives. We are so happy to be living debt free as far as our cars go. I hope we never have to worry about that again!