Auto Loan Mistakes Trick Majority of Americans
We all know roads can be dangerous, but there are also plenty of other auto obstacles that could be putting you at risk — including the predatory financial practices that lenders and dealerships use when selling cars.
A credit repair firm called Lexington Law recently ran a study on 4 common beliefs about auto loans, like the idea that you’re most likely to get a discount when paying for a car in cash up front. (That’s not true — in many cases, financing a car can save you thousands in the end.) Of the 4000 people who participated, over half failed.
The published study shows exactly what myths were tested and what percentage of people answered correctly. It also includes the truths behind the misconceptions, so if you’re planning on buying a car any time soon, definitely take a look!
Source: https://www.lexingtonlaw.com/blog/news/auto-loan-mistakes-survey.html