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Dear Terry,
I have a loaded 2004 Kia Sorento that went from
a lease to a loan with three years left on payments.
I need something a little smaller and more economical
with payments not more than $300 a month. Is this
possible?
-- Karen Haggas
Dear Karen,
To get to $300 a month in payments, you're looking
at a loan of $15,000 for 60 months. There are
a number of fuel-efficient vehicles you can get
in that price range, such as the Toyota Yaris.
The big question here is whether you have any
equity in the Kia Sorento and whether you'll have
to pay that off first.
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