"Financial Pitfalls: Avoiding Costly Car Loan Mistakes"
TL;DR Summary
A North Carolina woman's viral TikTok video reveals that despite making $50,000 in car payments over three years, she still owes $74,000 on an $84,000 car loan, highlighting the potential pitfalls of high-interest auto loans. Rising interest rates and depreciation contribute to the challenge of paying off car loans, but options for relief include paying cash for a car, increasing payments, consolidating loans, and negotiating rates with lenders in person.
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