So what should you keep in mind when buying a car?
- Forget sales and financing offers. Always consider how much money is being added in interest and other fees when it comes to monthly payments.
- Don't even look at monthly payments – always add up the long-term cost of the car and focus on that number as daunting as it may be. And if that number feels high, remember that monthly payments are designed to make a car seem cheaper than it really us.
- And when you figure out what you can afford each month, do not forget to calculate your insurance and taxes you will have to pay, especially if your purchase is a newer model vehicle.