By Michael E Ryan
Imagine you are driving buy a big car sales superstore, every one has at least one by them. So you are driving by, and you
have this jalopy that you were given when you were sixteen by your grandmother. You are now 24. The car is rusting out, there are
a few unknown rattles that are coming from under the hood. The car is blowing so much smoke out from the tailpipe, you can hardly
see that eighteen wheeler behind you. You look to your left and you see this ten by ten dot matrix screen that you can see from
the moon displaying, "NO CREDIT, NO PROBLEMS!" or, "Bankruptcy, bad credit, you're still approved!
So many people get dragged into this marketing ploy, it's not even funny. You start to think, "Yeah, I need that new car, this
one is not cutting it anymore!" What you don't understand is that, yeah you will be approved, but the interest rate will be so
astronomically high, you will not be able to see all of the numbers on graphing calculator. But, by the time you get to that point,
you will start to make excuses for yourself to have this new car.
If you absolutely need that car. Make sure you do your research first. Contact the BBB (Better Business Bureau) and check if
the dealer has had complaints filed against them. What a lot of the time, shady car dealers will do, is inflate the cost of the car,
and then knock some of the price tag off and then they make it look like you are getting a fantastic deal. Then they will slap the
high interest on the loan. be careful with this one. When you finance through a dealer, the dealer gets a cut of the finance. So
if you call the lender your self, you may be able to get a few percentage points off.
All in all, make sure that you expense all avenues before going with the high interest car loan. This can even ruin your
credit more so than it was before. One rule to go by, ALWAYS make sure you can afford it before you sign your signature on that line!