Car Loans Are Stupid
I know many of you are thinking as you read the title why is this fitness guy giving me advice on how to buy a car.
More specifically why did he record a podcast titles “Car Loans Are Stupid” CLICK HERE to listen.
How I think about fitness is through multiple pillars not just the physical but also the mental, spiritual and emotional side of things.
And over my 15 years of coaching humans what I have learned is stress is one of the top reasons why people remain unhealthy and can’t get fit.
So, realizing that when people spend money they don’t really have to chase material stuff they think will bring them happiness when in reality it only brings them more stress…. I thought maybe this quick podcast message could help, people stress less and get healthier and happier.
“Walk into an auto dealership these days and you might walk out with a seven-year car loan….
That means monthly payments that last well past when the brake pads give out and potentially beyond when the car gets traded in for a new one.
Car loans that are increasingly stretched out are a pronounced sign that some American’s can’t really afford their middle class lifestyle.” – per the Wall Street Journal
Now me personally I would walk before I took a car loan out.
Not to mention the average new car payment is $530 per month….if you took that same $530 and invested it into the market over 40 years you would wind up with about $3 MILLION DOLLARS…. Let that sink in for a second.
I don’t believe in paying interest on depreciating assets…and almost all things with motors and wheels on them go down in value the instant you drive them.
I not judging anyone out there who leases cars or makes car payments… this is just my opinion.
I am also not against super nice fancy cars…..if you can really afford them, pay cash for them, and have no other major debts hanging over your head…drive whatever you like.
I just see how much stress keeping up with the Joneses, trying to look fancy and attempting to impress other people can affect someone’s ability to healthy mentally and physically…. I don’t want you to be one of those stressed out people.
Again if you can afford a Lambo or a Bentley by all means drive your Lambo and Bentley I am more than happy for you……just don’t stress yourself out trying to make the payments on it….life is too short for that trust me!
CLICK HERE to give this episode a full listen and any questions after please just hit reply.
Until next time eat well, train hard & be nice to people.
Jeremy Scott Fitness Podcast
Jeremy Scott Scottsdale Personal Trainer