Should You Sell Your Car to Pay Off Your Mortgage?Episode Description

Would selling your car save you thousands of dollars... or could it actually be the wrong financial move?

In this episode of Start Here, Canna answers a listener's question about whether selling a $50,000 Toyota Hilux to put an extra $25,000 onto their mortgage is the smartest way to get ahead financially.

The numbers are surprising.

Yes, a lump sum repayment could save around $76,000 in interest over the life of the loan. But when you're already making significant extra mortgage repayments every month, that lump sum may not have the impact you expect.

More importantly, this conversation isn't really about a car.

It's about knowing when to optimise your finances... and when it's okay to enjoy something you've worked hard for without guilt.

In this episode you'll learn:

• Whether selling your car will genuinely accelerate your mortgage repayments.

• Why context matters more than calculators.

• The hidden costs of replacing an expensive vehicle.

• How to work out whether you actually need the car you own.

• Why extra mortgage repayments often do far more heavy lifting than one-off lump sums.

• The emotional reasons we sometimes question purchases we've already made.

• How to find the balance between building wealth and enjoying your life.

• A simple framework for making future big-ticket spending decisions with confidence.

If you've ever wondered whether you should sell your car, downgrade your lifestyle or sacrifice more to reach your financial goals faster, this episode will help you make that decision with greater clarity and confidence.

In this episode:

✔ How much a $25,000 lump sum could save on your mortgage
✔ Why replacing a car isn't always as cheap as it seems
✔ The true cost of running an older vehicle
✔ The importance of understanding what your car actually needs to do
✔ Why your monthly habits matter more than one-off decisions
✔ The psychology behind financial guilt
✔ How to enjoy your money without compromising your long-term goals

Remember, wealth isn't built by making one perfect financial decision.

It's built through consistently making good decisions over time.

Have a question for Start Here?

If there's a money question you've been quietly wrestling with, send it in. Chances are, thousands of other Australians are wondering exactly the same thing. canna@sugarmamma.tv 

Don't forget to subscribe, leave a review and share this episode with someone who might be asking themselves...

"Should I sell my car?"

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📚 My Books

If you’re ready to deepen your financial knowledge, check out my books:

• Best Seller:The $1000 Project
• **Mindful Money](https://amzn.to/3RV0poc)
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⚖️ General Advice Warning

While we discuss financial topics, everything shared here is general information only — never personal, product, or investment advice. Always:

• Do your own research.
• Weigh up the pros, cons, fees, caps, taxes, and risks.
• Seek professional advice before making financial decisions.

📜 Financial Planning License Details

The information in this podcast does not take into account your personal circumstances, goals, or needs. Always read relevant Product Disclosure Statements before acquiring any financial product, and seek independent financial advice where appropriate.

Canna Campbell is an Authorised Representative and Financial Adviser of Links Licensee Services Pty Ltd (AFSL No. 700012 | ABN 97 678 975 589).