CCC006: Why the Current System for Buying Cars is Broken

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:

Kelley Blue Book:

Average New Car Payment: Depreciation:

Leasing Information:

New Car Loan Length Increasing:

Subprime Borrowers & Higher Interest Rates:

Car Price in 2009:

Car Price in 2013:

Median Wages 2009 and 2013:

Leasing A Popular Substiture for Wealth:

Peer Pressure:

Dave Ramsey 7 Baby Steps:

Total Money Makeover by Dave Ramsey:

Stop Acting Rich by Thomas J. Stanley:

The Power of Habit by Charles Duhigg:

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