auto

7 tips for taking a car loan from family

Decide if the expense is necessary
8 of 8
Back
text

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.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Honda’s Halloween treat: Free candy

You can go trick-or-treating this Halloween without leaving your house, thanks to Honda.  ... Read more


Connect with us