This Element is an excerpt from Living Rich by Spending Smart: How to Get More of What You Really Want (ISBN: 9780132350099) by Gregory Karp. Available in print and digital formats. Think smart, think atransportationa: escape the car payment debt trap! Consumers figure, aIall always have a car payment. Everybody has one.a They donat care what the car costs or how many years theyall be paying it off. Itas the car payment debt trap: the never-ending cycle of financing automobiles. It robs many Americans of their wealth: Theyare constantly funneling huge payments into assets that are plummeting in value.The total current value of all your carsaplus boats, motorcycles, and similar vehiclesashould be less than half your gross annual household ... You can find the current value of vehicles at such Web sites as Kelley Blue Book, www.kbb. com.
|Title||:||How Much Car Can I Afford?|
|Publisher||:||Pearson Education - 2010-01-12|