Buying a new car is an exciting prospect. There’s nothing quite like searching for a new vehicle, reading up on all the different features, and finding the vehicle that fits your needs and wants perfectly. Getting a car loan, on the other hand, can be an arduous process, and sometimes the excitement of actually getting the car can leave you susceptible to making a bad decision. You don’t want to end up looking at your car loan payment every month with a mixture of confusion and irritation, and that’s why we’re here to help you avoid the mistakes that will put you in that position. Here are a few common car loan mistakes people make and how to avoid them.
New vehicle transaction prices have reached absurd levels in recent years. In fact, Americans now pay an average of $34,968 for a new vehicle, according to Kelley Blue Book data from January.