Saving Saving and Invest First Before Buying New Car

Before you buy a new car, ask yourself the following:

“Am I fully funding my 401(k)?”
“Am I fully funding my children’s college funds?”
“Do I have full medical, dental, and life insurance coverage?”
“Can I buy a home or an investment property?”
“Can I invest in a business to exponentially increase my income?”

Depending on your answers to these questions, you may want to reconsider taking out a loan for a new car or truck. Save at least $10,000 before spending any money on a new vehicle, and invest these interest payment savings in one of the above opportunities.