Your First Car Loan: Everything You Need To Know To Save
Aside from buying a home or perhaps paying for a college education, buying a car will most likely be your most expensive purchase as an adult. The average monthly new car payment at the end of 2023 was $726; the used car average was $533, according to Experian. In other words, your car payment can be an enormous part of your monthly budget, which is why it’s so important to secure the best possible deal on an auto loan and ensure you aren’t paying more than necessary in interest.