Beware of Creeps Bearing Gifts
OHHH, THOSE CAR DEALERS and their tv ads! They don't tell folks much more than the low monthly payments they can offer. What they're NOT telling them is that... in order to get the payment down that low... It will mean paying that payment for ridiculously long terms... 60, 72, even 84 months. Remember... After about 30-36 months... you are starting to owe more than the car is worth. After all, while you're paying the payments over that time... the car is continuing to depreciate. It's very much like the home mortgages situation. People lost their homes because they were enticed into taking on mortgages that were inevitably going to become more than they could handle or at the very least... they were going to find themselves in a similar situation where the unpaid balance would become much more than the actual value of the home.
WHATEVER YOU DO, DON'T DO THE "BUY HERE - PAY HERE" THING!
Look... I know... when you need a car... you need aRead More »from "I GOT REALLY LOW CAR PAYMENTSAND a WHOLE 84 MONTHS to PAY MY CAR OFF!" (OMG!)