Archive for March, 2012

Establish a Healthy Budget to Determine Auto Loan Affordability

Those contemplating taking out an auto loan usually do so because they need a new vehicle. The process to obtain that vehicle often begins with a prospective borrower finding a car they like-and then trying to work the budgeting process out. While this approach may be sound, it should be taken only by those who are willing to change their vehicle selection if their budget doesn’t allow for such a purchase. How does a borrower know what their budget will afford them? There are several approaches, but arguably one of the healthiest is through a simple 50/30/20 plan analysis.

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