Before you say ‘I do’ to a car loan

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When you say ‘I do’ to your car ltohaenc,oymomu’liltmneendt. tTohbeecarerawdiyllfboer ayinmouyooruurnretsnopawomneesdiabtnoidlitthtyhe,eublnaotnailkntiwhseipllfaubildel touhfnfa.ptLaufcickrkstitlh-yte, iwmbeoeaorcteafrhuelblruoeyfteobrhoseoml-pbayokoeus, osof dyeobutd. on’t get trapped in a cycle

Things to consider: wYiloluc’orme setiwllhyeoruenygou– acanndctohme tfiomrteaebxlpyeanfsfoivrde

Don’t get into a lot of debt right now thhoeurseepaynmdecnatrs. fBourtainf itvhersbietystaandvsitcaeritseyoduy’oveurjufsirtsletfjtoubn, yto usarvselef vueprfyopretnhneyfuytouurec.an to set

That’s going to mean driving aOrrowunodulidn your afitrhset rcabrefoinr a wflahsihley. csfeaawrvenyoeuwapr, sato?nAdblustteyrruangangtiliicvneglcyfa,oyrrotauhnecdonubelxidgt house a few years from now.

Pay off your first car

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Remember all the costs syoumleooktehderatetshse fnuteial cl ocnosutsm. pHtaiovne coofstthsei nyeowurcamr,oannthdlyinbculuddgetd? fuel mAalnsdoa,troerymeexmpebnesre ifonrscuarraonwcene–r –a and saving money for maintenance. mIf ayionuternnaenwcecaprlahnatshaissiesraviscme aolrl ewricehovivcehe, brceuadtn.cTreurhtniasiinnwtiotleltmihnesfcmilnuiagdnhecttinayolrretesbp, othf ocaurs.aEndssurdeeypoeunrdminognothnlythbeutdygpeet lets you save up for this and other incidental costs.

Remember to ask the car dealer ceyovmuersmytriptumocsteusnirbteltyeooquyuoreucsratrcioalonrasbnhe. oTfouhrlides

Be patient

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Try to avoid balloon payments, ptaenarydmocfhfootrohtseheecatlhro,eatnhs.ehToshroteoensoet orpnyoeosrusiyaborluee wbeWittheosrubptaotnhsiktsiodsneabytots–blauonyndygoyeoururf’nlilenbxaetnicncarae. periods and large balloon paypmaeynmtsenwtisl,lbburtinthgedroewarnemdoefnitnhitlye aodspnvisedanradtbhivnaealgllnoatonlanoggtepemrasypo.merBereiuonoyntd,eatorhlfsseotheinsenutedlborjaeeucnsptt, tcohianrtgeersesth, coouuldldaatbturaycetredvencimdeortoe reFfoinraincseta. llment sale agreements, the DfoblleofworiengB aedxcveicpet iafpitp’sliCe:sr: ather

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What exactly is a balloon payment?

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You might think you have it all fwigilulryeoduobuet friivgehtyenaorws,fbroumt wnhoewre?

Buy for the future

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Budget carefully

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Be interest aware

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Try to avoid balloon payments and choose the shortest possible term for the loan. The sooner you pay off the car, the sooner you are without this debt – and you’ll be in a better position to buy your next car.