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331 – When is a Car Loan Bad Debt? With Scott Terrio

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Manage episode 281456858 series 117835
Content provided by Douglas Hoyes and Doug Hoyes. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Douglas Hoyes and Doug Hoyes or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Car loans are one of the most common entry points into debt problems. That’s because if you’re not careful, you will easily spend more than you can really afford on a vehicle. While it’s hard to avoid borrowing for a car altogether, there are steps you can take to protect your financial health. On today’s show, guest Scott Terrio explains when a car loan becomes bad debt by sharing auto loan pitfalls, the dangers of loan rollovers, and budgeting considerations before buying a car. He also explains why you should think twice before borrowing against your car to consolidate debt. Tune in for lots of practical advice!

Related Links:

How Car Loans and Car Loan Rollovers Lead to Insolvency: https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/

Buying and Maintaining an Affordable Car: https://www.hoyes.com/blog/buying-and-maintaining-an-affordable-car/

Should You Consolidate or Pay Bills with a Car Title Loan: https://www.hoyes.com/blog/should-you-consolidate-or-pay-bills-with-a-car-title-loan/

Scott Terrio on Twitter: https://twitter.com/ScottTerrioHMA

  continue reading

504 episodes

Artwork
iconShare
 
Manage episode 281456858 series 117835
Content provided by Douglas Hoyes and Doug Hoyes. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Douglas Hoyes and Doug Hoyes or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Car loans are one of the most common entry points into debt problems. That’s because if you’re not careful, you will easily spend more than you can really afford on a vehicle. While it’s hard to avoid borrowing for a car altogether, there are steps you can take to protect your financial health. On today’s show, guest Scott Terrio explains when a car loan becomes bad debt by sharing auto loan pitfalls, the dangers of loan rollovers, and budgeting considerations before buying a car. He also explains why you should think twice before borrowing against your car to consolidate debt. Tune in for lots of practical advice!

Related Links:

How Car Loans and Car Loan Rollovers Lead to Insolvency: https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/

Buying and Maintaining an Affordable Car: https://www.hoyes.com/blog/buying-and-maintaining-an-affordable-car/

Should You Consolidate or Pay Bills with a Car Title Loan: https://www.hoyes.com/blog/should-you-consolidate-or-pay-bills-with-a-car-title-loan/

Scott Terrio on Twitter: https://twitter.com/ScottTerrioHMA

  continue reading

504 episodes

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