MONEY HACKS: Are You Paying too Much for Your Car Loan?

The average monthly car loan in America has continued to increase, extending the amount of debt taken on by many consumers.  According to a Wall Street Journal article, The Seven-Year Auto Loan: America’s Middle Class Can’t Afford Its Cars “about a third of auto loans for new vehicles taken in the first half of 2019 had terms of longer than six years.” It’s a hidden concern that many Americans are facing right now. In this Money Hacks episode, I go through why this might be a problem and a few tips to consider before taking out your next car loan.  

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