START HERE: SHOULD I SELL MY CAR TO GET AHEAD FINANCIALLY?
About this episode
Canna Campbell discusses whether selling a car to pay off a mortgage is a wise financial decision.
Should You Sell Your Car to Pay Off Your Mortgage? Episode Description Would selling your car save you thousands of dollars... or could it actually be the wrong financial move? In this episode of Start Here , Canna answers a listener's question about whether selling a $50,000 Toyota Hilux to put an extra $25,000 onto their mortgage is the smartest way to get ahead financially. The numbers are surprising. Yes, a lump sum repayment could save around $76,000 in interest over the life of the loan. But when you're already making significant extra mortgage repayments every month, that lump sum may not have the impact you expect. More importantly, this conversation isn't really about a car. It's about knowing when to optimise your finances... and when it's okay to enjoy something you've worked hard for without guilt. In this episode you'll learn: Whether selling your car will genuinely accelerate your mortgage repayments. Why context matters more than calculators. The hidden costs of replacing an expensive vehicle. How to work out whether you actually need the car you own. Why extra mortgage repayments often do far more heavy lifting than one-off lump sums. The emotional reasons we…
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