Home > Blog > Car Debt > Car Loan
Car Loan
Car Loan
Q: I’m a little behind on my bills because I’ve had to sink money into fixing my truck. A lot of dealerships are clearing out their inventories right now and offering great deals and low payments on new vehicles. They can also include funds in the loan that I can use to pay off my credit cards. Is this a good idea?
A: Replacing a vehicle is a big decision. Look past the enticing offers and let your budget help you decide if now is the time to buy. This will ensure that you make a smart financial, rather than emotional, commitment to your ride.
Q: I'm going broke keeping my old car running. I need a new one -- should I lease or buy a new car?
A: Before leaving your driveway in search of a new car to lease or buy, determine what you can afford each month.
Start by looking at your income and existing monthly and seasonal expenses. Over and above your loan or lease payment, you need to consider more than just fuel and insurance.
