FOLLOW US ON INSTAGRAM: @BLUAARDVARKFINANCE Having a car payment that is just breaking the bank month-to-month can be overwhelming and frustrating. In this video, I share some tips on how to lower your monthly payment.
TRADE-IN YOUR CAR: Consider selling your car privet sale before buying a replacement car.
DO NOT tell the dealer you want to trade your car in until the very end! Agree on all prices and final "out the door price" and get it as low as you can BEFORE you say you have a trade-in.
REFINANCE YOUR CAR LOAN: Bring an interest rate down only a few points can save more money than you'd think. Build your credit up as much as possible to give yourself the best chance at getting a favorable interest rate. Pay off all credit cards, or at the very least pay them down to 30%, don't apply for any new loans for at least 6 months, and don't think the deal is going to help you!
USE YOUR CAR TO MAKE MONEY: Uber, Postmates, and Lyft are great ways to make extra money every month. If your car makes you $400 a month and your car payment is only $300 your car might be such a heavy burden to you month over month.
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DISCLAIMER: I am not acting as a financial adviser nor rendering financial advice. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I may have a vested interest in any investment product mentioned. Opinions shared are merely speculation with no guarantee of gains or losses on investments. Past performance is no guarantee of future return. Invest at your own risk!
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