I spend this episode reviewing why the current system for buying cars is broken and what you can do to change the game in your favor. Why you should buy a cash car and how it can benefit you.
How you can use car payments not spent on cars to establish an emergency fund, save for retirement, save for a child’s college fund, and most of all to give. Giving may be done to a charity or your local church.
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Consumer Reports: http://www.consumerreports.org
Kelley Blue Book: http://www.kbb.com
Average New Car Payment: http://money.msn.com/car-buying/when-leasing-a-car-is-the-right-option
Edmunds.com Depreciation: http://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html
Leasing Information: http://money.msn.com/car-buying/when-leasing-a-car-is-the-right-option
New Car Loan Length Increasing: http://www.usatoday.com/story/money/cars/2013/10/28/long-term-car-loans/3191819/
Subprime Borrowers & Higher Interest Rates: http://www.businessweek.com/articles/2013-11-27/subprime-loans-are-boosting-car-sales
Median Wages 2009 and 2013: http://www.nytimes.com/interactive/2013/08/21/us/household-incomes-slow-climb.html?ref=politics
Leasing A Popular Substiture for Wealth: http://www.thomasjstanley.com/blog-articles/519/Leasing_A_Popular_Substitute_for_Wealth.html
Dave Ramsey 7 Baby Steps: http://www.daveramsey.com/new/baby-steps/
Stop Acting Rich by Thomas J. Stanley: http://www.amazon.com/Stop-Acting-Rich-Millionaire-Hardcover/dp/B002YOX5Z2/ref=sr_1_2?ie=UTF8&qid=1389756131&sr=8-2&keywords=stop+acting+rich
The Power of Habit by Charles Duhigg: http://www.amazon.com/Power-Habit-Why-What-Change-ebook/dp/B0055PGUYU/ref=sr_1_1?ie=UTF8&qid=1389756269&sr=8-1&keywords=the+power+of+habit
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