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Life is better without a car payment.

Too many people treat a monthly car payment like it is a permanent fixture in a family budget. Almost as soon as they pay off one car, they trade it in and take on a new car loan that requires another five years of monthly payments. Said simply, cars can very easily become a big waste of money.

There is nothing wrong with wanting to drive a safe and comfortable car, but avoiding excessive spending on cars and driving cars long enough to be free from car payments for extended periods of time are smart financial moves.