Cars can be a great way to save money when you can’t afford to buy new ones.
And if you have a car that you’d like to keep, you can rent it on a credit card or with a financing arrangement.
But when you’re trying to get a new car, you might be tempted to take the plunge and take out a car loan to pay for it.
There are a number of factors that make this a risky move.
You’ll likely pay more than the car is worth in interest and other charges, and you’ll be putting your own money at risk.
That’s because you’ll have to repay your loan at the end of the lease term, which will be much higher than you can afford.
That means you’ll likely owe more on the car than you have in it.
Here’s what to consider before you take out your car loan.