To start this episode, I want people to take a reality check. Most of us are too optimistic when it comes to our futures. I’m all for positive thinking, but we most often expect the future to be better than our pasts. This isn’t always the case.

This concept is illustrated by a Prudential Insurance ad where they ask people to place magnets, one each, for something that happened to them in the past and, one each, for something they expected to happen in the future. Good things were represented with yellow magnates and bad things were represented with blue magnates. For the past it was pretty even good and bad, but when looking into the future, people anticipated much more good than bad coming their way.

Click here to view the Prudential commercial.

What does this have to do with cars. Well, most people buy cars on credit and base the payment on at worst their life not getting any worse and at best getting a promotion, raise, or some other type of monetary increase. This leads to all manner of problems  and people over extend their income.

Be realistic about your future. Expect the best, but plan for the worst. That way, you will always be prepared.

Click to Listen:

My friend Ellory Wells, has been telling me for a long time I should recommend specific vehicles to my listeners. I have resisted because I want to teach the car buying process. I want to teach someone how to fish, not give them a fish.

Having said all that, I have come across two articles that help me point my listeners in the direction of some vehicles that will with the best chance to go over 200,000 miles.

Ever wonder what vehicles can go 200,000 miles most often?

If you are like me you have. I want to know that my vehicle has the oomph to last. No car is cheap and we all work too hard for our money to just throw it away.

Luckily, there are a couple of articles that share some of the vehicles which most often make it past 200,000 miles.

One is from our friends at Consumer Reports, Best cars for making it to 200,000 miles, 10 models most likely to run for the long haul.

Consumer Reports’ Top 10:
Toyota Prius
Toyota Camry
Honda Odyssey
Honda Pilot
Toyota Corolla
Honda Accord sedan (4-cyl.)
Honda CR-V
Toyota Sienna
Toyota Highlander (V6)
Honda Civic (non-hybrid)

The next article is from I See Cars. Their article, Top 10 Longest-Lasting Vehicles in iSeeCars.com Study Are All Trucks and SUVs. I didn’t know much about I See Cars, but they are a site that allows one to search and compare cars. They also have a research tab.

Top 20 Longest Lasting Vehicles:
Ford F-250 Super Duty
Chevrolet Silverado 2500HD
Chevrolet Suburban
Toyota 4Runner
Ford Expedition
GMC Sierra 2500HD
Chevrolet Tahoe
GMC Yukon XL
Toyota Sequoia
GMC Sierra 1500
GMC Yukon
Honda Accord
Dodge Durango
Subaru Legacy
Toyota Tacoma
Toyota Avalon
Ford Explorer
Ford F-150
Lincoln Navigator
Chevrolet Silverado 1500

I See Cars also had lists that excluded trucks and another that was only listed with cars.

These two studies came at the information from very different points of view. I would recommend checking out both articles for all the details.

Give this episode a listen!

Links:

Ellory Wells: http://ellorywells.com

Consumer Report – Best cars for making it to 200,000 miles 10 models most likely to run for the long haul: http://www.consumerreports.org/cro/news/2015/03/ten-for-the-long-haul/index.htm

I See Cars Article – Top 10 Longest-Lasting Vehicles in iSeeCars.com Study Are All Trucks and SUVs http://blog.iseecars.com/2014/02/24/top-10-longest-lasting-vehicles-in-iseecars-com-study-are-all-trucks-and-suvs/

Prudential Commercial: https://www.youtube.com/watch?v=o3pFHPgH3oU

Did you enjoy the show?

If you liked this episode, please consider going to iTunes and subscribing.

On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review.

Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes

Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert.

Want to connect on Facebook? http://facebook.com/cashcarconvert

Check out my new private Facebook community. http://cashcarconvert.com/cccc

Want to shoot me an e-mail? Click: james@cashcarconvert.com.

Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon

Looking for a back episode of the Cash Car Convert? Click: http://cashcarconvert.com/cash-car-convert/

I’m also posting my audio podcasts on youtube. The first 20 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http://cashcarconvert.com/youtube

Do you have a comment about this interview or about the podcast itself? Please leave a comment below.

I appreciate every listener.

The post CCC063: How Can I Get 200,000 Miles Plus? appeared first on Cash Car Convert.

Steve Stewart back on the Cash Car Convert show to tell his Cash Car Story.

Okay, Steve agreed to be on to get me back behind the microphone. The things some people will do to help a friend. He continues to be a great supporter of this show. I’m humbled and appreciate his support.

Let’s just say he has “bought” into the cash car lifestyle.

It was great to see Steve at the Podcast Movement 2015 in Fort Worth, Texas.  We didn’t get to hang out too much, but it was great to see him and his cash car.

He does have a great cash car story and we will get to it now.

Steve bought a cash car in Dallas Texas in April this year. This wasn’t a typical transaction. Steve lives in St. Louis!

Why did Steve come to Dallas to buy his cash car?

Click to Listen:

It all started when I posted a Craigslist ad on the Cash Car community page on Facebook on April 2nd.

Steve’s response to my post was the following, “an I send you a check and a little extra for your trouble to look at it for me? I’m 75% serious here (and it’s no longer April Fools Day).”

Steve and I spoke on the phone and agreed I would look at the car for him.

I went to look at the car and liked what I saw. I also spent about an hour plus at Christian Brother’s Automotive having the car looked over by professional mechanics. This is a service Christian Bother’s offers for about ninety dollars.

While they did find a few things that long term needed attention, their overall assessment was this is a sound vehicle. The mechanic went out of his way to tell me the late 90’s Honda Civics have historically been great cars. He called a Civic sweet spot.

I called Steve and after a lengthy conversation, he agreed to buy the car if we could get some price relief. The car was originally priced at $3,800. Steve finally purchased it for $3,400. A little more than a 10% discount. To be fair Steve had to buy a plane ticket to travel to Dallas and had other expenses.

When all was said and done, Steve was out $4,000.

Steve is on today’s show to talk about how the car has been performing since April.

I won’t steal Steve’s thunder, but he has had this car on the highway traveling between Dallas and St. Louis, St. Louis and Fort Worth and back, and St. Louis to Philadelphia and back. He has had this car on the highway for an estimated total of over 40 hours. That’s a lot of time on the road.

To me, this is important because most people are happy to drive their $4,000 car around town, but would be afraid to take a 10 hour one way trip. This car has held up to the demands put on it.

1998 Honda Civic EX as advertised on Craigslist.

Steve Stewart’s cash car parked in Fort Worth at Podcast Movement 2015. Note the Cash Car Convert bumper sticker.

Give this episode a listen, I know you’ll enjoy Steve Stewart’s Cash Car Story!

Links:

Steve Stewart: http://stevestewart.me

MoneyPlanSOS: http://moneyplansos.com

Stacking Benjamins Episode on Steve Stewart’s Cash Car: https://www.stackingbenjamins.com

MoneyPlanSOS Episode on Steve Stewart’s Cash Car: http://moneyplansos.com/ynab-vs-everydollar-comparison/

Plates Award Nomination Page: http://cashcarconvert.com/plutus

Tom Corley (Rich Habits): http://richhabits.com

Todd Tressider (Financial Mentor): http://financialmentor.com 

Christian Brothers Automotive: https://www.cbac.com

Did you enjoy the show?

If you liked this episode, please consider going to iTunes and subscribing.

On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review.

Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes

Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert.

Want to connect on Facebook? http://facebook.com/cashcarconvert

Check out my new private Facebook community. http://cashcarconvert.com/cccc

Want to shoot me an e-mail? Click: james@cashcarconvert.com.

Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon

Looking for a back episode of the Cash Car Convert? Click: http://cashcarconvert.com/cash-car-convert/

I’m also posting my audio podcasts on youtube. The first 20 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http://cashcarconvert.com/youtube

Do you have a comment about this interview or about the podcast itself? Please leave a comment below.

I appreciate every listener.

The post CCC062: Steve Stewart and the Cash Car Story appeared first on Cash Car Convert.

What a great show we have today!

We have a young lady, Lauren Bowling, on who was a theater major and graduated with no student loan debt. Her parents made sure she had no student loans. The foe of most every college student got her though, credit cards. She finished college with thousands in debt and a dream.

Lauren Bowling dreamed of being an actor in New York city. With $300 and her dream, she left home for New York.

Click to Listen:

Soon after she arrived between the debt and lack of acting jobs, Lauren was forced to take an administrative job at a hedge fund company. Lauren spent her time there paying down her debt and learning from the fiscally responsible people working at the hedge fund.

After Lauren paid off her debt, she started to pursue her acting, only to find she didn’t really enjoy it. She didn’t really love the audition process. She said her nerves would often get the best of her. She often didn’t perform at her best.

Lauren decided to head back home and take up residence with her parents. Lauren didn’t stay with her parents’ house too long. She received a bonus from the hedge fund and decided to put it towards a house.

Lauren’s dream house quickly turned to a house of horrors when her home repairs outstripped her home repair loan and she found herself in $8,000 in debt. Reeling from a recent breakup and in debt Lauren spent a year finding her equilibrium.

In 2015, Lauren regained her footing, she got serious about her. Lauren set up a plan to pay off $8,000 in 90 days. Lauren hit her goal of paying off $8,000 in 90 days.

How you might ask did she do this?

It turns out Lauren had started a blog, L Bee and the Money Tree to discuss money and her journey with it back in 2012. She also started doing some free lance writing. She over the next two years and 2,000 blog posts, she built her reputation. She also built a know like and trust factor with her audience.

It was the free lance writing that allowed her to  accelerate the pay off of her debt. She also discovered something else. She discovered she could make enough hustling as a free lance writer to leave her day job.

What started off as a problem, a house with excessive repair bills, resulted in an opportunity to leave her day job and pursue a new life.

Lauren also shared a personal story of a shopping addiction. She spoke of how shopping was comfort for what she felt lacking. She attended therapy sessions to get control of her addiction.

I thought it was brave of her to tell this personal story on my show. I believe her bravery in sharing this story, will touch someone out there who needed to hear her story.

Give this episode a listen, I know you’ll enjoy!

Links:

L Bee and the Money Tree: http://www.lbeeandthemoneytree.com

Lauren Bowling YouTube Channel (Awkward Money Chat: https://www.youtube.com/user/LBeeMoneyTree

Did you enjoy the show?

If you liked this episode, please consider going to iTunes and subscribing.

On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review.

Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes

Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert.

Want to connect on Facebook? http://facebook.com/cashcarconvert

Check out my new private Facebook community. http://cashcarconvert.com/cccc

Want to shoot me an e-mail? Click: james@cashcarconvert.com.

Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon

Looking for a back episode of the Cash Car Convert? Click: http://cashcarconvert.com/cash-car-convert/

I’m also posting my audio podcasts on youtube. The first 20 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http://cashcarconvert.com/youtube

Do you have a comment about this interview or about the podcast itself? Please leave a comment below.

I appreciate every listener.

The post CCC061: Lauren Bowling from L Bee and the Money Tree appeared first on Cash Car Convert.

Let’s explain the dangers of auto leasing!

Jeff Bartlett, deputy automotive editor at Consumer Reports
“If you asked me what is the most expensive way to get a car, the answer would be: You only want to own it during its period of greatest depreciation and then move to another new vehicle.” “Well, that’s what leasing is.”

lease noun \ˈlēs\: a legal agreement that lets someone use a car, house, etc., for a period of time in return for payment

Click to Listen

How is the payment calculated?

• Purchase price – how much you pay, you should negotiate just as hard as if you were buying
• Cost of money – interest rate
• Lease term – number of months of the lease
• Residual value – estimated value of what the car will be worth at lease end
• Sales tax – You will only pay taxes on the sum of your payments, which is the difference between the purchase price and residual value.

What is the average lease payment?

Avg auto loan in Q4 2013 $471
Avg auto lease in Q4 2013 $420

What are the gotchas with leasing?

• Paying too much upfront
• Forgetting to buy gap insurance
• Underestimating you miles driven
• Not maintaining the car
• Leasing for too long

What types of auto leases are there?

Closed-end Leases which are mostly consumer leasesOpen-end Leases

Open-end leases are primarily for commercial business leasing. 

How do I know if I’m getting a good lease?

Leasify – App to confirm you are getting the best lease. 99 cents.

Leasify is a car lease advisor in your pocket. Leasify levels the automotive playing field by giving you the information you need to get the best deal on your new car lease.

•  X-rays lease quotes to extract hidden fees and areas where you can improve your deal
•  Serves as a financial decison-making tool with a sophisticated algorithm that generates a deal score
• Displays what the dealer paid, as well as the average price paid, for any car in your zip code

Next week, I’ll be talking about how to get out of a lease if you find yourself in one and want out.

God Bless You!

Links:

Auto Leases Entice, but They’re Still Costly: http://nyti.ms/1wfmUju

Merriam-Webster Online: http://www.merriam-webster.com/dictionary/lease

Types of Car Leases – Explained: http://www.leaseguide.com/lease06/

Lease Payment Formula Explained: http://www.leaseguide.com/lease08/

Calculate Your Own Car Lease Payment: http://edmu.in/1x8lzwr

5 dumb car leasing mistakes to avoid: http://bit.ly/1CdUwmq

Experian Automotive report shows auto loans are still first choice in financing, but leasing has become more popular than ever: http://bit.ly/1CtQW8k

Depreciation Infographic: How Fast Does My New Car Lose Value?:  http://edmu.in/WELal0

Leasify App: https://itunes.apple.com/US/app/id912884639

Did you enjoy the show?

If you liked this episode, please consider going to iTunes and subscribing.

On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review.

Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes

Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert.

Want to connect on Facebook? http://facebook.com/cashcarconvert

Check out my new private Facebook community. http://cashcarconvert.com/cccc

Want to shoot me an e-mail? Click: james@cashcarconvert.com.

Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon

Looking for a back episode of the Cash Car Convert? Click: http://cashcarconvert.com/cash-car-convert/

I’m also posting my audio podcasts on youtube. The first 15 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http://cashcarconvert.com/youtube

Do you have a comment about this interview or about the podcast itself? Please leave a comment below.

I appreciate every listener.

Thank you for listening to the Cash Car Convert show.

The post CCC054: What You Need to Know About Auto Leasing appeared first on Cash Car Convert.

I post the podcast on Friday of each week. If you subscribe, you will automatically get every episode for free.

I would suggest you use a podcast application on your iPhone or Android phone. I use the Stitcher Radio and iTunes podcast apps.

These applications make discovering, subscribing, and listening to podcasts so much easier. They also automatically update your podcasts every time a new episode is released.

If you want to ask me a question , please contact me at james@cashcarconvert.com.

The post Cash Car Convert Weekly Podcast [Page] appeared first on Cash Car Convert.