How to Use the Infinite Banking Concept (IBC) to Purchase Cars Over a Lifetime

Today’s post tackles one of the more common applications of the infinite banking concept – purchase of cars over a lifetime.

Assume that you are going to get your cars every five (5) years.

There are several ways of getting your car, and the succeeding cars thereafter. 

The first is through a leasing option.  This is considered the most expensive way to get your car.  At the end of the leasing period, you don’t own the car.  This after you have fully paid your principal and interests.

The second way  to get your car is through a bank loan.  At the end of the loan period, you own the car for whatever residual value it is worth.  Yet, you won’t see again the principal and interests you have paid to the bank.

The third way is pay your car in cash.  You might think that by paying cash you will beat the leasing option and the bank loan option.

You are in for an unpleasant surprise.

Learn this by heart:  you finance EVERYTHING you buy!

You either PAY interest to someone ELSE when you use their money, OR you GIVE UP the interest and investment income you COULD have earned, had you kept your money invested instead.  When you withdraw your money, you’re earning ZERO interest on it.  It is called OPPORTUNITY COST.

Even paying cash has its own drawbacks!

The fourth way is to get your car, and the succeeding cars thereafter, by using the infinite banking concept.

When you do the purchasing this way, you are in for a very pleasant surprise – and more!

The infinite banking concept (IBC) uses a financial instrument known as dividend-paying whole life insurance as your ‘bank.’  By massively funding this financial instrument for the shortest time possible, your ‘bank’ accumulates guaranteed cash values and dividends.

The guaranteed cash values can be loaned out and the dividends withdrawn to purchase your car.

However, you need to faithfully repay the loan as if you are taking the loan out from a commercial bank, only that at this time, ALL the repayments go to YOUR “bank” and not to some other commercial banks.

At the end of the loan period, you own the car, PLUS you will RECOVER ALL THE PRINCIPAL AND INTERESTS you have paid  YOUR “bank.”!

And, to top that, your bank continues to grow its cash values – GUARANTEED,  year in, year out, ready for your next car purchase.

Since the financial instrument you will be using is a life insurance product, there is the added PROTECTION, just in case the Lord calls you to a meeting and you are not allowed to come back. :)

If you want to set up your own personal bank/s and recover all the principal and interests you would have paid to some commercial banks, give me a call at 0922.8547.111 / (032) 511.0102 / (032) 255.6262.  I would be more than willing to assist you, free of charge. :)