My wife and I have recently bought a new car. It was used but new to us. The best part about the whole deal was that we didn’t have to take out a car loan.
We paid cash.
Now, we are both in our forties and well established financially. So you might think this purchase was a piece of cake. On the contrary, it wasn’t. It took us two years of preparation to be able to buy this vehicle. But it was worth the effort to avoid needing a car loan.
How did we do it? I’ll share that in a minute and show you the steps to take to never need a car loan again. But first, let’s look at the reasons why people feel the need to take out a car loan in the first place.