[rom]

Correct, every contract I’ve signed for financing has always spelled out the total cost of the loan over its lifespan.

I must say, I have been amazed by the amount of people I have heard of who have traded in their car while being upside down on it, rolling it into a new vehicle that they can’t afford.

Like any other debt, I always pay off more than my monthly payment on car loans, unless I am making more money off of a simple savings account (~5%) than the loan, in which case my money stays put in the bank.

But, public schools have failed most kids who lack a basic understanding of money — to the point where salesmen now ask, “How much do you want to pay a month?”

And people have no idea that their ‘low monthly payment’ equals 10 years in debt for a car.

Sad.

[Not A Snowbird]

But, public schools have failed most kids who lack a basic understanding of money — to the point where salesmen now ask, “How much do you want to pay a month?”

I got suckered by that line once in the late 80's, but never again.

I refuse to discuss monthly payments with the salesmen, which does make them a little crazy. I won't use their financing, either, unless they can beat Navy Federal. So far nobody has been able to come close.