Here is the hard fact:  Automobiles are getting more and more expensive, taking a greater percentage of your monthly income to purchase a vehicle.

Today, it seems like for most people, having a reliable vehicle is a necessity, not a luxury.  But for others, they buy their vehicle for luxury, even when they really can't afford it.

The Cost Of Financing A New Auto

There are ways of intelligently using someone else's money for purchasing a new auto.  Low-cost financing (such as 0.9% rates) can be a good use of your credit, and get you into a more affordable auto.  But here is the catch: Don't refinance any remaining balance of your existing vehicle into any new loan. 

Rolling in unpaid balances from older vehicle loans is becoming a common event.  It is been estimated that about 1 in 3 people who finance a car in 2019 are rolling over debt from a prior auto, with an average carryover balance of nearly $5000.  Both of these numbers are increased,...

I think we all use them and love them.  It has radically changed how we think of public transportation.  

Yes the ride-sharing services of UBER(TM)  and Lyft(TM) (and others, I am sure) have radically transformed the way we are transported.

Many people are now using these services to help generate income.  Daily travel commutes from the suburbs to downtown have changed from costs to potential sources of income.  Those time gaps in your day can be turned into opportunities for income generation.  Easy - peasy, right?

What's the catch?

It's important to know that most personal auto insurance policies exclude coverage when you are using your auto for livery services unless you have a specific endorsement on your policy that provides coverage in those circumstances.  To provide for-hire transportation in your vehicle without that endorsement results in the exclusion of certain components of your auto coverage during that time period.  You are...