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 dest
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 dest

