Why Your Car Might Be Your Biggest Wealth Killer

Here's a hard truth: Americans love cars, but cars don't love your bank account.

The average driver spends $762/month ($9,144/year) on car ownership — that's 20% of monthly income just to keep wheels rolling. But financial experts say you should only spend 10% on the payment itself, max 20% total.

The problem? About 1 in 10 drivers are dropping 30%+ of their paycheck on auto loans alone. That's 3x what you should be spending.

Where it gets brutal:

- 40% of drivers can't even afford repairs when stuff breaks
- Nearly 50% say car expenses are destroying their ability to save or invest
- No emergency fund = one job loss away from financial crisis

The math is simple: If you're spending 25-30%+ on a vehicle, you don't have a car — the car has you. Money that should build wealth is just evaporating into gas tanks and repair bills.

Real talk: Just because you can qualify for that loan doesn't mean you should take it. The cheapest car you can afford beats the most expensive one you can technically finance.