Those are extreme cases… they’re buying a 48k car (that seems on the high side) but trading in an 8k car (so old/cheap or both)… of course the loan is going to be large.
Normally you’d time the trade… my current car was an upgrade on my last but the monthly payments reduced because I timed it so the value of my existing car was reasonably high.
Those are extreme cases… they’re buying a 48k car (that seems on the high side) but trading in an 8k car (so old/cheap or both)… of course the loan is going to be large.
Normally you’d time the trade… my current car was an upgrade on my last but the monthly payments reduced because I timed it so the value of my existing car was reasonably high.