auto

7 tips for taking a car loan from family

Decide if the expense is necessary
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If you're going to borrow money, make sure the auto is a necessity and not just a new car you don't need, Kresh says.

Take into consideration what you can afford to borrow and stick within those limits, he says.

"If you're looking at unconventional loan sources, such as family members and friends, for something as conventional as buying a car, you have to ask yourself if you're really just trying to spend too much money," says Kresh.


 

 

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