09.21.26 HELOCked Into A Debt Trap / New Vehicles Under $40,000
Summary
Clark Howard warns against banks pushing home equity lines of credit, explaining how to choose between HELOCs and fixed-rate loans for home improvements. He discusses the rising cost of cars, highlighting affordable brands like Subaru and Buick, and advises keeping paid-off vehicles to avoid high monthly payments. The episode also covers the 240-hour visa for China, the importance of following state lemon law procedures for defective new cars, and the necessity of reviewing Explanation of Benefits statements to catch medical billing errors.
Topics discussed
Sponsors: Indeed and KeyBank
Show intro and agenda
The dangers of tapping home equity via HELOCs
Listener Q&A: Best ways to tap home equity
Keeping mortgage paperwork after payoff
Travel tip: China's 240-hour visa on arrival
Sponsors: Spruce, Talking Real Money, Schwab, AT&T, Range Rover
Affordable car brands and the high cost of new vehicles
Why keeping your paid-off car is financially smart
Listener Q&A: Full coverage on a paid-off Subaru
Listener Q&A: Lemon law vs. trade-in for defective car
Listener Q&A: Reviewing medical EOBs for overpayments
Closing remarks and show schedule
Sponsor: Uber Eats game day delivery
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