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“Drifting Away from Traditional Car Buying – How to Keep Both Your Car and Your Finances in the Fast Lane” outlines the way the IBC can be used to create a tax-free lending system that frees individuals from traditional bank loans and their associated high-interest fees.
More information is available at https://www.iownmybank.com/blog/b/car
The article can help readers understand the step-by-step process for implementing the IBC into their own finances, making it easier to make large purchases such as buying a new car.
A recent survey reported that 85% of cars in America are bought on finance, with an average loan of $26,162 and monthly payments of $467. These figures highlight that, despite the incurred cost, many Americans are still using traditional bank loans to buy a car.
To offer Americans more options, “I Own My Bank” has been releasing informative pieces on how to use the IBC as a more practical and low-interest alternative to traditional sources of funds.
“Drifting Away from Traditional Car Buying – How to Keep Both Your Car and Your Finances in the Fast Lane” initially provides a breakdown of the IBC and its history. This includes its development by economist R. Nelson Nash and the ways it incorporates the core principles of the Money Multiplier Method by “I Own My Bank.”
As the guide explains, the IBC is a way of using whole life insurance policies to create dividend-paying assets that can start creating a cash value within 30 days. Using this liquid cash, individuals can use it as a tax-free payment option for making large purchases.
To help make this process easier to understand, readers will also find real-life examples of the IBC process. These complete run-throughs show how the concept can be used to buy and pay off a car purchase, with examples of how much life insurance cash values can increase annually.
The material is available without any upfront costs and comes with several additional resources to help individuals get started using the IBC in their own financial strategies.
A spokesperson for “I Own My Bank” said, “Enjoy the benefits of flexible repayment terms, low-interest rates, and the ability to maintain control over your financial future, all while driving away in your dream car.”
Interested parties can find more information by visiting https://www.iownmybank.com/blog/b/car
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COMTEX_441088335/2764/2023-09-27T13:59:18
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.