Can’t Afford a Car Payment? Buy a Car Instead!

Cash Car Buying

This is a guest post by my friend Derek Olsen from Better Conversations on Money and Marriage.  Their website is

My wife Carrie and I had the pleasure of appearing on the Cash Car Convert podcast episode #33

I got a little excited during our interview and just went crazy talking about how much I believe in paying cash for cars. It was a blast.

I got so excited I forgot to tell this amazing story.

This is a true story about a client of mine that I coached out of a tough financial spot.

Once upon a time there was a guy named Fredric.

Fredric was struggling to stay afloat. He was behind on a few payments and doing everything he could to keep up with his student loans. After a few months on a budget, he was current on everything and able to save just a little each month.

But his car was dying and he really needed a new one.

When we got together to look into getting him another car, things looked pretty grim.

Although Fredric had come a long way and things were heading in the right direction, he just didn’t have enough cash saved up for a car yet.

We looked into the possibility of financing a car but the monthly payments would have made it so he was again living paycheck to paycheck. It really just wasn’t an option.

So, we got creative.

Fredric is a musician and his main instrument is the keyboard. He told me that he had an old saxophone that he never played and it was worth $1,700. Whoa!

We came up with a plan to sell the sax, sell the car, and gather up a few hundred dollars from here and there.

The plan worked.

Check this out!! Did you see what just happened??

Fredric could NOT afford a car payment but he COULD AFFORD A CAR!

This flipped my lid. Really, I was amazed by the situation.

Again, he could not afford payments, so he just went ahead and bought a car.

Imagine that, being so poor that buying a car with cash is the only option.

What else is there to say…?

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