339 –  Car Loans Keeping You Broke? Here's What To Do

339 – Car Loans Keeping You Broke? Here's What To Do

Author: Doug Hoyes February 27, 2021 Duration: 28:24

For many people, a car is a necessary expense to get to work and run errands. But what if you unintentionally bought too much car and your car loan is now creating financial problems? What are your options? Is it possible to get out of a car loan? On today's podcast, Ted Michalos and Doug Hoyes discuss when you might want to hand your vehicle back, how to do it, and what happens with the loan shortfall. Tune in for lots of practical advice!

Related link:

Voluntary Surrender: Should I Hand My Vehicle Back? https://www.hoyes.com/blog/voluntary-surrender-should-i-hand-my-vehicle-back/

Time Stamps:

 

2:38 What is negative equity

10:32 Budgeting for car expenses

15:30 When should you give your car back

16:58 How to give your car back


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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