Episode 008: Car Payments Suck!

Posted Sep 1, 2016 | Updated May 24, 2019

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Car Payments Suck!

The greatest separation of wealth in today’s society has to do with car payments.

In this week’s episode of the Money Peach Podcast, I am going to show you exactly why your car is costing you way more than your monthly payment. I am also going to share with you a shocking statistic about what kind of car the average millionaire in North America owns and their reasoning behind the cars they drive.

I remember living paycheck to paycheck, with two nice cars in the garage carrying monthly payments that totaled more than our mortgage. Our change in behavior with our vehicles didn’t come right away, but was inevitable if we were ever going to truly be responsible with our money.

Could you imagine if you never had another car payment for the rest of your life? What would that feel like, what would you do with extra money, but more importantly what would you drive?

Join me inside this week’s episode of the Money Peach Podcast, where I share with you our own success and how we have saved thousands of dollars over the past few years in making one simple choice with our money and the cars we drive.

The first step to solving your problems with money is to take back control of your money. This always starts with the Budget.

Download the Budget

I’ll see you inside the next Episode of Money Peach TV & Podcast each and every Thursday!

-Chris Peach

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Mentioned in this Episode

Success Story: 5 People Who Dumped Their Car Payments

7 Steps to Selling Your Car (Like a Boss)

Help! My Car is Upside Down

The Millionaire Next Door

Awesome Money Course

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Chris Petrie

Chris (Peach) Petrie is a personal finance expert, money coach, speaker and podcaster.

In 2011, Chris and his family were exhausted from living paycheck-to-paycheck and facing a mountain of debt. They started going against the society standards of misbehaving with money and made the decision to take back control of their lives and money. Within seven months they paid off $52,000, started saving like crazy and began building real wealth.

The word spread fast and Chris started showing friends how to create a budget over dinner. Soon after he started showing their friends how to do the same and eventually Chris started teaching personal finance classes around the community. As the need for the classes grew, Chris launched Money Peach in 2015.

Money Peach was created to help everyday people remove the stress and fear of money by showing them how to save more, make more, and keep more of their money.

Chris Peach has been featured in places like Business Insider, The Huffington Post, Elite Daily, and CheddarTV.

When Chris isn’t at “work” he can be found at the Crossfit gym or riding on the fire truck — Chris is also a full-time firefighter in Phoenix, Arizona.