Car Purchase With Whole Life Insurance Infinite Banking Concept, Guide Launched

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‘I Own My Bank®’ has released a new guide to the Infinite Banking Concept, coined by the late R. Nelson Nash.

While teaching the idea of one becoming their own banker – a method known as the Infinite Banking Concept (IBC) – Nash explained new methods for using whole life insurance policies. Now, with the new guide, ‘I Own My Bank®’ offers tips on how to use this approach for purchasing a new car.

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The new guide discusses the most common ways to approach the car acquisition process, comparing cash purchases with traditional financing. These are then contrasted against the IBC method – leveraging the cash value of an insurance policy as a means of funding the process.

For many people, buying a car is one of the largest purchases they will make, but it can be hard to secure reasonable interest rates or favorable deals. The IBC offers an alternative solution to traditional banks and lenders. By leveraging specially-designed whole life insurance policies, people can create a private banking system to finance major purchases. In the first 30 days premiums create cash value in the policy. Policyholders can then borrow against this cash value to buy cars and other big-ticket items outright, avoiding external financing.

Strategies akin to this have been used by the wealthy, such as John D Rockefeller, for generations, as it helps them to retain control of their finances. ‘I Own My Bank’ aims to make this approach more accessible to everyday Americans looking for alternatives to conventional borrowing. The guide outlines the specifics of utilizing IBC for car buying – with links to further resources, including a detailed video explainer.

A spokesperson for the company states: “Infinite banking is a tool that the wealthy use to recapture the money they spend on things like cars. Instead of paying a bank to borrow money to buy a car, they become the bank and use their own money to finance the purchase. This allows them to set their own interest rates and repayment terms, and they can even earn interest on the money they lend to themselves.”

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