By Mike Welch, SCLA Writer
Loans are an incredibly common way to help finance the purchase of a car. According to recent statistics, more than 85% of new cars and 55% of used cars are financed with loans or leases. These numbers aren’t surprising, given how expensive new and even used cars can be, however, loans carry their own risks if you’re not ready for them. Monthly payments can add up quickly, and getting approved for a loan may be difficult depending on your financial situation.
Fortunately, there are some options available to help you with car loans. Read the following list to learn more about what factors will impact the status of your loan.
