- Should I worry about it? Car loans have mid-high interest rates that add thousands to your original purchase price. Add that to gas and maintenance and you’re looking at a big hole in your savings bucket.
- Watch out for! Read the fine print. Some loans will charge you a big fee if you pay off the loan early.
- Where should I get it? Start with your local credit union. Avoid the car dealer.
- Did you know?
- 4%-14% | average interest rates on car loans
- $343 | interest you owe on every $1,000 you borrow at 10% over years
- Why? Because driving a car is already too expensive.
- More info: Auto Financing For Smart People: Tips For Saving On Your Car Loan
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