Paying off your car loan
20 August 2008
Car loan repayments can be difficult to maintain, but this problem can be worsened by poor budgeting. Before you apply for a car loan, make a conservative estimate of the money you have spare after covering other vital needs. You should then also take into account the amount you spend on everything else. Whatever you have left over is what you may reasonably be able to use to pay off a car loan. If the current car loan you have requires payments that are higher than this amount, you may want to reprioritise how you spend or refinance your car loan.
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