Money Girl's Quick And Dirty Tips For A Richer Life

1010. Are you feeling "car poor" or trapped in an auto loan that costs more than your vehicle is worth? In this Finance Friday episode, Laura answers a listener's question about how to navigate an unaffordable car loan when you’re upside-down (negative equity).If you are looking to lower your monthly payments or are debating between a car lease vs. buying your next vehicle, you’ll learn the pros, cons, and math behind making the most affordable choice for your budget.We talk about:How to manage an upside-down car loan: Strategies for refinancing or negotiating with lenders when you owe more than the car's market value.Auto Refinancing 101: When to switch your loan to a credit union or online lender to reduce interest rates and monthly payments.The 20% Rule: Why a significant down payment is the best defense against rapid vehicle depreciation.Leasing vs. Buying: A breakdown of the long-term costs, maintenance responsibilities, and flexibility of each option.Hidden Costs of Ownership: How to account for repairs