The Real Costs of Car Ownership and Smart Buying Strategies

Ever wrestled with the decision of buying a car and felt overwhelmed by the options and costs? That's where we step in with a treasure trove of essential insights. Today's episode peels back the layers of car purchase costs and ownership, a topic that's reverberated through the walls of my own home as we've debated the merits of new versus used, the necessity of that additional family vehicle, and the costs that far exceed the initial price tag. We're uncovering the hidden truths behind the financial impact of vehicles on American households, where multiple cars in the driveway are becoming the norm, and maintenance costs can give your wallet a monthly knockout punch. Join us as we navigate the reality of strategic planning for future car purchases, and ponder the age-old question: Do you drive your car into the sunset or stay in the cycle of perpetual car payments?

As we shift gears into the second half of our discussion, we zoom into the intricacies that come with choosing the right set of wheels, especially when it comes to luxury brands like those sought-after German machines. It's not just about the allure of the emblem; we're talking maintenance costs that could rival a small mortgage, insurance premiums that might have you doing a double-take, and depreciation curves steeper than a rollercoaster drop. I also spotlight the challenges of car financing in an era of rising interest rates, making the decision between saving and borrowing more crucial than ever. Whether you're a seasoned car owner, in the market for your first ride, or simply trying to make sense of your current automotive expenses, this episode offers indispensable guidance in understanding the full scope of financial obligations tied to owning that all-important vehicle. 

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Confident, healthy, informed and capable. That's what it means to be Money Chic. Join Financial Advisor Shari Rash each episode as she helps break down financial challenges and questions facing today's families in a no-nonsense  way.

Shari will share secrets she has learned through the years about personal finance and show you ways to enhance your life, financial plans, your family's future all to make sure you're Money Chic!

Shari is the founder of Greenway Wealth Advisory
Financial planning questions? Check out Shari's website and blog at https://greenwaywealthadvisory.com/
https://www.greenwaywealthadvisory.com/blog
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