Wednesday, January 20, 2016



Many believe that car notes are just a way of life.
It does not have to be. But if you are looking for an easy way, this is not it! But it does work.
If are not badly upside down in your car loan, and you have a lot of payments left, do whatever you can save about $500.00 to $1,000.00 and sell the newer car. This may take a few months. Find a junky old $500.00 to $1,000.00 car. They are out there, but you really have to look. Often, if you let family, friends, relatives and church members know you need a reliable, cheap car, someone may have one you don’t even know about.
If you can pay it off in the next couple years, do so. Either way, if you can have just one month without a car note, take the amount of that note and open an account at a bank that is not too close to you. Do not obtain an ATM card or checks.  Make sure it is out of your way to go there. Then send your monthly note (let’s assume $300.00)  to that bank with a deposit slip each month. It might be helpful to make a payment book just like regular car notes.
In only twelve months, you have put $3,600.00 in the bank. The $750.00 car still has some value.  Maybe you can trade it in for a value of at least $500.00, or sell it to your buddy who you have inspired to start their “life without a car note.”
Take your $4,100.00 and buy a much better car.
For the next year, put your $300.00 in the bank each month just as if your making payments. So you are driving your car payment free, years earlier than you would have been with the loan, and each year or two you can upgrade.
Remember, NO ONE drives a new car. Every titled car is “used.”
And, paid for cars drive better. It’s not easy, but it is worth it.  And, getting in the habit of saving and earning interest, rather than paying it, is truly a gift that keeps on giving.