Getting Out Of Car Payments - Sound Advice from Used Car Expert James Kinson

For a summary of this show and a link to James Kinson's "14 Steps to Your First Cash Car" visit http://FinancialWellnessShow.com/10

James Kinson is a Cash Car Convert - it even says so on his website. 

The reason James is so passionate about helping people buy used cars is because he understands the impact new cars have on an individual’s personal finances - and buying new is what most people do.

James Kinson shares this, "Most of us were taught that we will always have car payments. Within the first year a new car will lose about 19% of its value and 60% over five years. It is because depreciation isn’t directly hitting a person’s wallet that most people don’t consider the financial impact.”

He shares with us ways to get out of car debt:

Sell the car

What if you are upside-down?

What would I drive? (buy a beater)

Trade in to lower-value debt car

Accelerating the existing loan payment

Sell stuff

Cut costs in your budget

Get an extra job

Getting out of a lease

Swap-lease and LeaseTrader.com

Sell the car, pay the difference (if any)

Turn in early and pay the remaining lease payments

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