/----/ Buy a car within your means, is rule #1. If you want a truck, fine, but don't buy a $50,000 truck when a $25,000 one will serve the same purpose and you can easily afford the payment. Hells Bells, I always but a 2 - 3-year-old car so I don't pay the depreciation. As a result, I get a better car than the new base model at the same cost. But I know people who buy cars, add on options and then negotiate a bad deal with high interest because their credit rating stinks.A recent edition of “The Indicator” stated that over 7M Americans are more than 90 days behind on their car payments. Of that 7M most are probably truck buyers. Nobody has ever needed a $50K truck for a daily personal use vehicle.
Episode 953: Three Sides Of A Car Loan
The economy is doing well for the already well off.