Car payments
July 16, 2020
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M Lets look at the cost of cars. The average monthly payment is $550 for new vehicles, $393 for used, and $452 for leased. The average loan ratecwas 8.06% in 2019, but ranged from 5.66% for borrowers with strong credit to 21.54% for borrowers with poor credit
V Given today’s economic realities, the fact that Americans had 1.3 trillion in auto loan debt in 2019 means trouble. While it may be too late to change the news, its not to early to learn and never repeat, what did not work well when times were better.
M Scripture is relevant today. Owe no one anything but love. Romans 13: 8. Driving that used car, and saving to pay cash for the next one is best: not easy, but possible.