067 Financial Excellence: Is Paying Cash for a Car a Good Idea?

05 Jul 067 Financial Excellence: Is Paying Cash for a Car a Good Idea?


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Episode 67: Is paying cash for a car a good idea: paying cash for autos, groceries and more, July 06, 2011.

Today we answer a voice mail feedback question about paying cash for cars to avoid auto loans. We also discuss paying cash for groceries and other budgeted items.

Living In Financial Excellence airs LIVE every Tuesday at 10 a.m. CST. You can watch live and join the chat at financialexcellence.net/live-show

Show notes:Matt & Janelle Recording the Financial Excellence Podcast

  • Brent Green from the Pursuing your Calling podcast called in with a question about paying cash for his car. We answer his question and expand on the topic of why car loans stink.
  • Further answering Brent’s question, we talk about the pros and cons of buying new cars vs. used cars.
  • Of course we think that paying cash for a car is a good idea. It sometimes helps to sell your used car first since you typically make more than the trade in value.
  • Janelle had an interesting debit card experience at the grocery store the other day. We share the story today.
  • For a lot of people, carrying cash is intimidating. Janelle used to be afraid of it too. She discusses her former negative feelings about carrying cash, and her current positive feelings about it as well.
  • You can influence what we talk about in future shows. Simply fill out this three-minute survey.

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4 Comments
  • 288th Festival of Frugality – Dog Days of Summer Edition
    Posted at 05:32h, 12 July

    […] you want to be wealthy then perhaps you should start by being frugal.Financial Excellence asks Is Paying Cash for a Car a Good Idea?  I’ve brainwashed myself so well that I’m surprised to learn that people still think […]

  • Festival of Frugality » Blog Archive » 288th Festival of Frugality
    Posted at 10:31h, 26 July

    […] Excellence asks Is Paying Cash for a Car a Good Idea? I’ve brainwashed myself so well that I’m surprised to learn that people still think […]

  • Heather
    Posted at 23:47h, 06 January

    If I have a cash, I would love to pay my new car in cold cash 😀

    • Matt Wegner
      Posted at 09:33h, 07 January

      It can be done if you set aside a little each month Heather. How about instead of saying “if” you have cash, you say “when” you get the cash saved up?