Summary: The New Car Smell – Howard Dayton and Steve Moore discuss resisting the allure of the auto debt trap. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: My parents want pass a business on to my brother and me. What will our tax burden be on the transfer of ownership? Can I refinance my mortgage to a lower rate? We are looking to buy a home. How much of our savings should we use for the down payment? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!
