It’s very important to know exactly how much car you can afford to buy. And not only that you need to know how much car you can afford to buy with payments that last no longer than 60 months.
Because of the constantly increasing cost of vehicles these days, manufacturers and financial institutions are now extending payments to even 72 months. But, 72 months simply isn’t a good idea to be on the hook for paying for car for the vast majority of us folks.
The reason is that a car is a depreciating asset. It is not an investment. The longer you stretch your payments out over the course of time, the more depreciation you are actually paying for. Continue reading ‘Car Buying Guide – Don’t Come Out Upside Down’ »