Selling you car could net you millions

In the chart above you can see that by selling your car and living car free you could compound that money to about $1.15 million. AAA estimates that the cost of a car is about $12,182/year. Between car payments, maintenance, gas, insurance and depreciation of value the car is losing money for you every year. If you were to take that $12,182 each year, invest it, and earn an easy 7% interest on that money you would net about $1.15 million at the end of 30 years. If you could live car free or have too many cars in your household you could easily start to build wealth for you and your family. Worth the consideration, especially since the dual impact of saving the planet.