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9 steps to a car loan on damaged credit

7. Shop loan terms, not monthly payments
7. Shop loan terms, not monthly payments © LifeStudioPhoto/Shutterstock.com

7. Shop loan terms, not monthly payments

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. If the only way you can make the payments is to take out a long-term loan, you probably can't afford the car.

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Tara Baukus Mello

Used car prices are at record high

Used car prices have risen to a record high, according to an Edmunds.com analysis, but the higher prices aren't necessarily bad news.  ... Read more


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