Most people know the limits of their budgets, and will stick to that budget in most situations. But, when it comes to buying a car, too many people blow off the budget and go after a car that’s beyond their means because they’ve fallen in love with it. The emotional trap starts at the dealership with a very well-trained sales team that will do everything to play upon a customer’s heartstrings, vanity, and pocketbook. In order to afford their shiny, new machine, customers will sign on for a car loan that features an extra long term in order to make their monthly payments smaller which can have disastrous results.
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