27 min
#MoneyMindeset = Why You Should NEVER Have A Car Payment Cordan N Full Effect
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- Business
On this episode of Money Mindset, we tackle a significant financial hurdle faced by many Americans: the staggering cost of car payments and its impact on wealth-building. Join us as we uncover the startling statistics revealing that the average monthly car payment for a new car is nearly $750, while for a used car, it's approximately $530. These hefty payments pose a substantial barrier to financial progress, eroding individuals' ability to accumulate wealth over time. Regardless of credit score, many Americans are opting for long-term loans, averaging nearly 70 months in duration. Through insightful analysis and expert commentary, we delve into the implications of prolonged car payments on financial stability and offer practical strategies for breaking free from the cycle of debt. Don't miss this essential discussion on reclaiming control of your finances and building a more secure financial future.
On this episode of Money Mindset, we tackle a significant financial hurdle faced by many Americans: the staggering cost of car payments and its impact on wealth-building. Join us as we uncover the startling statistics revealing that the average monthly car payment for a new car is nearly $750, while for a used car, it's approximately $530. These hefty payments pose a substantial barrier to financial progress, eroding individuals' ability to accumulate wealth over time. Regardless of credit score, many Americans are opting for long-term loans, averaging nearly 70 months in duration. Through insightful analysis and expert commentary, we delve into the implications of prolonged car payments on financial stability and offer practical strategies for breaking free from the cycle of debt. Don't miss this essential discussion on reclaiming control of your finances and building a more secure financial future.
27 min