The Dentist Money Show | Financial Planning & Wealth Management #686: Is Your Car Payment Wrecking Your Budget?
Sep 10, 2025
Exploring the hidden costs of car ownership, the hosts reveal how car payments can derail your finances. They share personal stories and contrasting examples to highlight the impact on long-term savings. The discussion emphasizes the importance of differentiating between wants influenced by social pressure and genuine values. Practical advice is offered on choosing affordable vehicles and managing big expenses over smaller daily costs, making budgeting decisions easier for listeners.
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Minivan Family Upgrade
- After the Jetta died, Jake and his wife bought a used Honda Odyssey minivan for family needs.
- He values function over form and appreciates the van's practicality for twins and future kids.
Car Prices Have Risen Fast
- New and used car prices have climbed sharply in recent years, with new cars averaging about $48–49k and used about $25k.
- Used vehicle prices rose about 31% and new vehicles about 22% since 2019/2020.
Monthly Payments Are Substantial
- Average monthly payments are high: roughly $745 for new cars and $500 for used cars, with rates around 6%.
- Over 20% of new-vehicle buyers have payments of $1,000+ per month.
