Car loans
June 6, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M Lenders are creative and have more ways than ever to lure you into unnecessarily long loan contracts.
America’s car loans are a 1.2 trillion dollar business extending terms as long as eight years.
V Really! How many own a car that long? A used car? They wish to lure you with that lower monthly amount over 5 years. Likely the car will have costly repairs in a few years and you’ll want to get rid of it. But you can’t get rid of your loan obligation. Then you may owe more than the car is worth.
M Pause, lower your wish list on that car. Drive it longer and save to pay cash.