Comment on $1,000 car loan payments are on the rise, stressing household budgets

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captainlezbian@lemmy.world ⁨1⁩ ⁨week⁩ ago

Yeah, now don’t get me wrong, you can get some deals on cars when dealers see the lot space as increasingly valuable compared to the car on it, but they’re salespeople, they’ll swear up and down that that’s the case no matter what the situation is.

You want to know how you can tell you got a good deal? You compare it to what similar vehicles are being sold for at other places, you have an independent mechanic check it out (an honest dealer will be perfectly happy with you doing that), and you ask a trusted financial institution (ideally a credit union) what they would loan you for it. In general you trust that everything a car salesperson is doing that sounds good is to keep your eyes on the hand that isn’t in your pocket.

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