Lecture 5: How to Use Credit Optimally
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% Occasionally, you can get a very low rate that is subsidized by the
manufacturer to help move a slower-selling car, but you have to
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often get a lower interest rate by paying off the car in three years
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RIISD\LQJWKHORDQWKDQSXWWLQJWKHPRQH\LQDFKHFNLQJDFFRXQW% The biggest mistake people make when buying cars is being
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is often higher than the price they could have gotten from shopping
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about shopping around for the best price and the best loan terms can
KDYHDELJSD\RII% The second mistake people make is to focus only on the car
payment and not on how much they are paying for the car and what
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some idea of the loan terms you can get from a bank, including the
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allows you to make a lower payment that only covers the expected
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