I was going to buy a car and after talking with my father about it, I'm more confused than ever. Are there any outdated car buying tips I should avoid?
, but with interest rates at all time lows, it’s not necessary.
For example, if you finance a car at 2.9% interest instead of paying cash and can invest that money at more than 2.9%, the interest rate for the loan drops to zero. If you can make 5% interest on your investment, you’re actually borrowing money and making cash on top of it.
Another great tip is to not always finance through the dealer. While they might be able to get you a better deal, going straight to a lender and cutting out the middleman will almost always save you money.
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