Have you ever looked at a vehicle and seen more than just a car? In this episode, we share a powerful story about two cars in a driveway—a minivan and a sleek SUV—that teach a vivid lesson about financial decisions.

We'll reveal why paying cash for a car can lead to incredible financial freedom and flexibility. We’ll also break down The Money Guys’ "20/3/8 Rule" for smart vehicle financing and expose the hidden pitfalls of dealership loans, from "yo-yo" scams to loan packing. Your vehicle should serve you, not the other way around. Learn how to make a choice that empowers your financial journey, rather than derails it.

In This Episode, We Discuss:

• The true cost of car ownership and how our vehicle choices can impact our lives and relationships.

• A personal story about two vehicles that highlight the difference between paying cash and financing.

• The profound benefits of paying cash for a car, including avoiding interest and gaining financial flexibility.

• The Money Guys' "20/3/8 Rule" for smart car financing: 20% down, 3-year term, and payments under 8% of your gross income.

• The critical importance of making sure your investments exceed your car payment.

• The hidden pitfalls of dealership financing, including "dealer markups," "yo-yo" scams, and loan packing.

• The key questions to ask yourself before your next vehicle purchase.

Key Resources Mentioned:

• Ramsey Solutions: Find great car buying advice with their 10 Car Buying Tips.

• The Money Guys: Learn more about their 20/3/8 Rule.

• Consumer Financial Protection Bureau: Read their article on Steps for Getting an Auto Loan.

• Edmunds: Research the Cost of Car Ownership.

• Kelly Blue Book (kbb.com): Find vehicle values and pricing.

Ready to make a smarter vehicle choice?

• Schedule a call with a financial coach today to create a strategy for your next car purchase that aligns with your financial goals.

Connect with Us:

• Private 1-on 1 Coaching - Create a plan for your money and get some help and direction. Schedule at time today.⁠Strategy Session⁠

• Check out: ⁠Financial Coaching for Kingdom Men Blog⁠.

• Join the Newsletter

• Email: jon@financialcoachjonllc.com

• Visit the website: ⁠www.financialcoachjonllc.com⁠

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Music by ⁠Sergio Prosvirini⁠ from ⁠Pixabay⁠

⁠Ambient Uplifting Presentation Motivational⁠

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