Auto Loan Myths: True or False?

Everyone loves that new car smell, but when it comes to actually buying a new car, we all tend to show a little less enthusiasm. The excitement of choosing a new car can be squashed quickly as soon as you start trying to price compare, apply for loans, negotiate, choose a dealer, and everything else that goes along with trying to get the best bang for your buck.

If you feel like you’re hopeless when it comes to car buying, take comfort in the knowledge that at least you’re not alone: the credit repair firm Lexington Law  recently ran a study on 4 of the most common myths about auto loans. Over half of the 4000 people who participated failed!

The myths the firm tested included whether or not it’s better to pay for a car in cash and how high your credit needs to be to get a good interest rate on a car loan (it’s lower than most people think!) The full loan study results are published, as well as the truths behind the myths. If you’re thinking of buying a car any time soon, definitely take a look — it might save you!

Myth #1

Myth #2

Myth #3

Myth #4

Comments 1
  1. don’t be afraid to seek professional advice or assistance. If you’re feeling overwhelmed or uncertain, consider consulting with a trusted financial advisor or seeking guidance from reputable car-buying services. They can provide personalized insights, offer strategies for improving your credit, and help you navigate the intricacies of the car buying process!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

How to Get Better Sleep on a Plane

How to Get Better Sleep on a Plane

The thought of finally reaching your final destination after a long flight is

13 Foods that Will Enhance Your Mood

13 Foods that Will Enhance Your Mood

  The food that we eat each day has a direct effect on the way we feel

You May Also Like