7. Shop loan terms, not monthly payments8 of 11Look for the cheapest money -- the lowest APR over the shortest period. Don't be distracted by promises of a lower monthly payment over a longer period of time, says Van Alst. And if you need an 84-month loan, "you can't afford that car," says Anthony Giorgianni, associate finance editor of the Consumer Reports Money Adviser newsletter.<< Back to the '2009 Winter Auto Guide' table of contents Related Articles:10 ways to save on new carGreat deals on orphan models10 cheapest cars to ownTightwad's 10 tips to saveRelated Links:10 biggest gas guzzlersTop 10 fuel misersHow much should you put down?Monthly car payment calculatoradvertisement
Look for the cheapest money -- the lowest APR over the shortest period. Don't be distracted by promises of a lower monthly payment over a longer period of time, says Van Alst. And if you need an 84-month loan, "you can't afford that car," says Anthony Giorgianni, associate finance editor of the Consumer Reports Money Adviser newsletter.
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A little research could save you BIG on interest.