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The Car Payment Trap

The average new-car payment in America is over $730 a month. Compounded for 30 years, that's a different retirement.

A used three-year-old vehicle of the same make typically costs 40% less while offering 80% of the useful life. The difference, invested, is roughly $600,000 over a working career.

Cars are tools. Treat them like washing machines, not personalities.