@chase.yokoyama: You probably shouldn’t do this…. - $0 down might seem appealing, but it often means higher monthly payments and more interest over time. - $599 per month for 427 months totals over $255,000—far more than the car’s value. - Long-term loans can keep you paying for a car long after its worth has diminished. A smarter approach is the 20/4/10 rule: - Put down at least 20% of the car’s price. - Finance for no more than 4 years. - Keep total transportation costs (car payment, insurance, maintenance) under 10% of your monthly income. #budget #carloan #financetips

Chase Yokoyama

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Monday 04 November 2024 17:31:21 GMT