With the average cost of a new vehicle approaching $50,000, car buyers have been looking for ways to keep their monthly payments low. Unfortunately, one of the most popular tricks—extending auto loan terms to six years or more to shave a few dollars off monthly payments—could end up costing drivers thousands of dollars in the…
Katie and her husband earn $147,000 a year, almost double the median American household income of $74,000 (1). But they are “upside down” with car debt, so the 41-year-old called The Ramsey Show for advice. The couple and their 15-year-old twins live in Alabama. Katie said they are on the second step of Dave Ramsey’s…
A Minneapolis mother of two thought her family was making steady progress, until a single financial decision quietly blew a hole in her budget. Her husband refinanced his car to take out $3,000 in cash and the move left them stuck with a crushing 25% APR. The caller, Cathy, shared her story on “The Ramsey…
While it is possible to use a personal loan to buy a car, it is probably not your best financing option. An auto loan typically offers lower interest rates, so it could cost you less than a personal loan. But there are some circumstances where a personal loan might make sense; For example, if you…
A woman named Bree from Philadelphia recently called “The Ramsey Show” with a difficult financial and family dilemma. Her husband, who currently works as an assistant manager at a trucking company, wants to quit his job and start driving for Uber full time. Bree explained that her husband feels overwhelmed at work, dealing with drivers,…
