Car Leases:

A car lease is a glorified, overpriced RENTAL!! 😧

If you are getting beat up by a car lease, try this:

1️⃣ Ask what it will cost to buy out of the lease early or to pay it off. If the difference between what the car is worth and the price of the buyout is a slim enough gap of a few thousand in some cases it's worth it to do this to stop the bleeding.

You'll then need to pay the difference. If you don't have a few thousand in cash, you may take out a personal loan to cover the difference.

2️⃣At that point, you could start saving up ahead of time to purchase your next car in cash.

3️⃣You could also sell the former leased car and downgrade to a beater if you wanted access to more cash to throw toward other debt.

Jade, Why do all this??? Because the car payment is what traps the middle class. The average car lease is $467 per month.

The difference in having $500 extra a month (and that's just one car) would change most people's world.

This is the difference between paying off the rest of your debt quickly and even saving the right amount to retire with enjoyment.

$500 invested monthly in mutual funds over 30 years with an average rate of return is over a million dollars!!

Moral of the story, No More Leases!!!! The cost is hurting you in more ways than you know!!

@jadewarshaw