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Why Financing a Car Can be a Bad Idea

Why Financing a Car Can be a Bad Idea

If you are looking to get a car and you don’t have enough money saved to purchase the car outright, you may be tempted to get a car loan so that you don’t have to wait. Most young people long to have a nice car. It is part of an image that they want to obtain. Plus, after they graduate from college and get a decent paying job, they feel like they have all this money to throw around. Yet, if they want to save up for a car, that would mean a lifetime of waiting to purchase the car of their dreams. The next best option then is to finance the car. This means there is no waiting – we do live in a “microwave” culture of wanting things now, now, now! Yet, financing a car can be a huge mistake! Continue Reading