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