Cars & Debt - How to Finance Your Vehicle

Drowning in car payments or stuck in a loan that feels never-ending? In this episode of The Debt Hotline, host Hannah Locklear is joined by Joshua Tatum, co-founder and Chief Product Officer of CarPutty, a fintech company helping people manage and refinance their cars with transparency and control. With over two decades of experience in consumer finance, Joshua breaks down how to make smarter auto loan decisions, whether you’re buying, leasing, or refinancing, and how to treat your car like an asset, not a liability.

Together, Hannah and Joshua explore real strategies to lower monthly payments, avoid long-term debt traps, and regain financial stability through tools like CarPutty’s Flexline and V3 valuation system. They also take live calls from listeners across the country:

• Rachel (Texas): Paying $650 a month for three years and still not seeing progress.
• Daniel (Ohio): Owes $28,000 on a car worth $22,000, what now?
• Louis (Florida): Credit score in the low 600s. Can he still refinance?
• Jessica (California): Needs a second car for her business but doesn’t want more debt.
• Andrew (New York): Unsure if refinancing will save him money long-term.

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Key insights from this episode of The Debt Hotline include:

• Why most Americans end up “upside down” on their car loans.
• How refinancing can reduce payments by hundreds each month.
• Why 72-month loans cost more than you think.
• Smart ways to finance multiple cars under one account.
• How to rebuild credit and use debt strategically.

The bottom line: You don’t have to stay stuck in a bad car loan. With the right knowledge and tools, financial freedom is possible, one car payment at a time.

To submit your own question to The Debt Hotline:

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