Lease or Buy?–How to Choose an Affordable Car (and Fix an Upside-Down Loan)

1010. Are you feeling "car poor" or trapped in an auto loan that costs more than your vehicle is worth? In this Finance Friday episode, Laura answers a listener's question about how to navigate an unaffordable car loan when you’re upside-down (negative equity) . If you are looking to lower your monthly payments or are debating between a car lease vs. buying your next vehicle, you’ll learn the pros, cons, and math behind making the most affordable choice for your budget. We talk about: How to manage an upside-down car loan: Strategies for refinancing or negotiating with lenders when you owe more than the car's market value. Auto Refinancing 101: When to switch your loan to a credit union or online lender to reduce interest rates and monthly payments. The 20% Rule: Why a significant down payment is the best defense against rapid vehicle depreciation. Leasing vs. Buying: A breakdown of the long-term costs, maintenance responsibilities, and flexibility of each option. Hidden Costs of Ownership: How to account for repairs, mileage restrictions, and residual value before you sign a contract. Upcoming Wedding Series This May: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Money Girl is a Quick and Dirty Tips Podcast , hosted by Laura Adams. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com . Hosted on Acast. See acast.com/privacy for more information.

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Lease or Buy?–How to Choose an Affordable Car (and Fix an Upside-Down Loan) is an episode from Money Girl's Quick and Dirty Tips for a Richer Life by Macmillan Holdings, LLC.

This episode is 14:40 long.

This episode was published on Apr 10, 2026.

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