{"id":23139,"date":"2024-08-11T18:00:00","date_gmt":"2024-08-12T01:00:00","guid":{"rendered":"https:\/\/mycarmakesnoise.com\/?p=23139"},"modified":"2024-08-09T08:41:38","modified_gmt":"2024-08-09T15:41:38","slug":"auto-loan-mistakes-you-must-avoid","status":"publish","type":"post","link":"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/","title":{"rendered":"15 Common Auto Loan Mistakes to Steer Clear Of"},"content":{"rendered":"\n<p>Navigating the world of auto loans can be tricky, and making the wrong choices can cost you dearly. To help you steer clear of common pitfalls, we&#8217;ve compiled a list of 15 auto loan mistake you must avoid. From understanding your credit score to avoiding long-term financial traps, this guide will help you make informed decisions and secure the best deal for your next vehicle.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Skipping_the_Pre-Approval_Process\" title=\"Skipping the Pre-Approval Process&nbsp;\">Skipping the Pre-Approval Process&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Ignoring_Your_Credit_Score\" title=\"Ignoring Your Credit Score\">Ignoring Your Credit Score<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Not_Shopping_Around_for_the_Best_Rates\" title=\"Not Shopping Around for the Best Rates&nbsp;\">Not Shopping Around for the Best Rates&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Not_Considering_Total_Loan_Cost\" title=\"Not Considering Total Loan Cost&nbsp;\">Not Considering Total Loan Cost&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Overlooking_Loan_Fees_and_Charges\" title=\"Overlooking Loan Fees and Charges\">Overlooking Loan Fees and Charges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Choosing_a_Longer_Loan_Term\" title=\"Choosing a Longer Loan Term\">Choosing a Longer Loan Term<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Financing_Add-Ons_and_Extras\" title=\"Financing Add-Ons and Extras\">Financing Add-Ons and Extras<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Not_Making_a_Down_Payment\" title=\"Not Making a Down Payment\">Not Making a Down Payment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Rolling_Over_Existing_Debt\" title=\"Rolling Over Existing Debt&nbsp;\">Rolling Over Existing Debt&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Skipping_the_Fine_Print\" title=\"Skipping the Fine Print&nbsp;\">Skipping the Fine Print&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Underestimating_Insurance_Costs\" title=\"Underestimating Insurance Costs&nbsp;\">Underestimating Insurance Costs&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Financing_Through_the_Dealer_Without_Checking_Other_Options\" title=\"Financing Through the Dealer Without Checking Other Options&nbsp;\">Financing Through the Dealer Without Checking Other Options&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Not_Budgeting_for_Car_Ownership_Costs\" title=\"Not Budgeting for Car Ownership Costs&nbsp;\">Not Budgeting for Car Ownership Costs&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Borrowing_More_Than_You_Can_Afford\" title=\"Borrowing More Than You Can Afford\">Borrowing More Than You Can Afford<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#Neglecting_to_Negotiate_the_Car_Price\" title=\"Neglecting to Negotiate the Car Price\">Neglecting to Negotiate the Car Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#More_from_MyCarMakesNoise\" title=\"More from MyCarMakesNoise\">More from MyCarMakesNoise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#The_Top_20_Legendary_Fighter_Jets_in_Military_History\" title=\"The Top 20 Legendary Fighter Jets in Military History\">The Top 20 Legendary Fighter Jets in Military History<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/#13_Vintage_Convertible_Classics_That_Never_Go_Out_of_Style\" title=\"13 Vintage Convertible Classics That Never Go Out of Style\">13 Vintage Convertible Classics That Never Go Out of Style<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Skipping_the_Pre-Approval_Process\"><\/span><strong>Skipping the Pre-Approval Process<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Pre-Approval-Process.jpg\" alt=\"\" class=\"wp-image-23142\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Pre-Approval-Process.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Pre-Approval-Process-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Pre-Approval-Process-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: PanuShot \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/loan-approver-businessman-suit-man-giving-2237911195\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/loan-approver-businessman-suit-man-giving-2237911195\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Not getting pre-approved for an auto loan means you don&#8217;t have a clear understanding of your budget or the interest rates you qualify for. Pre-approval gives you a better idea of your financing options and strengthens your negotiating position with dealers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ignoring_Your_Credit_Score\"><\/span><strong>Ignoring Your Credit Score<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Ignoring-Your-Credit-Score.jpg\" alt=\"\" class=\"wp-image-23143\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Ignoring-Your-Credit-Score.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Ignoring-Your-Credit-Score-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Ignoring-Your-Credit-Score-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Andrey_Popovt \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/online-credit-score-ranking-check-on-2081844805\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/online-credit-score-ranking-check-on-2081844805\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Your credit score directly impacts the interest rates and loan terms you can secure. Ignoring it can lead to higher interest rates and less favorable loan conditions. Check your credit score and work on improving it before applying for a loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Not_Shopping_Around_for_the_Best_Rates\"><\/span><strong>Not Shopping Around for the Best Rates<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Shopping-Around-for-the-Best-Rates.jpg\" alt=\"\" class=\"wp-image-23144\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Shopping-Around-for-the-Best-Rates.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Shopping-Around-for-the-Best-Rates-300x225.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Shopping-Around-for-the-Best-Rates-768x576.jpg 768w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Shopping-Around-for-the-Best-Rates-480x360.jpg 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: MacroEcon \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/munich-bavaria-germany-march-31-2023-2383544107\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/munich-bavaria-germany-march-31-2023-2383544107\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Accepting the first loan offer without comparing rates from multiple lenders can cost you thousands of dollars in interest over the life of the loan. Shopping around ensures you get the most competitive rates and terms.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Not_Considering_Total_Loan_Cost\"><\/span><strong>Not Considering Total Loan Cost<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Considering-Total-Loan-Cost.jpg\" alt=\"\" class=\"wp-image-23145\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Considering-Total-Loan-Cost.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Considering-Total-Loan-Cost-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Considering-Total-Loan-Cost-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Fauzi Muda \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/calculator-paper-money-word-total-cost-2265207623\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/calculator-paper-money-word-total-cost-2265207623\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Failing to consider the total loan cost, which includes interest, fees, and other charges, can lead to financial surprises. Always calculate the full cost of the loan to understand what you&#8217;re truly paying.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overlooking_Loan_Fees_and_Charges\"><\/span><strong>Overlooking Loan Fees and Charges<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Overlooking-Loan-Fees-and-Charges.jpg\" alt=\"\" class=\"wp-image-23146\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Overlooking-Loan-Fees-and-Charges.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Overlooking-Loan-Fees-and-Charges-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Overlooking-Loan-Fees-and-Charges-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: PanuShot \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/asian-businesswoman-specializing-car-loan-services-2456352581\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/asian-businesswoman-specializing-car-loan-services-2456352581\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>&nbsp;Loan fees, such as origination fees or early repayment penalties, can significantly increase your overall loan cost. Be sure to ask about all potential fees and include them in your loan comparisons.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Choosing_a_Longer_Loan_Term\"><\/span><strong>Choosing a Longer Loan Term<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Choosing-a-Longer-Loan-Term-1.jpg\" alt=\"\" class=\"wp-image-23148\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Choosing-a-Longer-Loan-Term-1.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Choosing-a-Longer-Loan-Term-1-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Choosing-a-Longer-Loan-Term-1-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: PaeGAG \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/sale-agent-handed-over-rental-car-2083986394\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/sale-agent-handed-over-rental-car-2083986394\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>&nbsp;While longer loan terms lower monthly payments, they increase the total interest paid over the life of the loan. Opt for a shorter term if possible to save money in the long run.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financing_Add-Ons_and_Extras\"><\/span><strong>Financing Add-Ons and Extras<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"732\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Add-Ons-and-Extras.jpg\" alt=\"\" class=\"wp-image-23149\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Add-Ons-and-Extras.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Add-Ons-and-Extras-300x220.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Add-Ons-and-Extras-768x562.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: grinny\/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/car-money-calculator-payments-costs-163499951\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/car-money-calculator-payments-costs-163499951\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>&nbsp;Including add-ons like extended warranties or service packages in your loan increases the loan amount and interest paid. Pay for these extras separately to avoid additional interest charges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Not_Making_a_Down_Payment\"><\/span><strong>Not Making a Down Payment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"563\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Making-a-Down-Payment.jpg\" alt=\"\" class=\"wp-image-23150\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Making-a-Down-Payment.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Making-a-Down-Payment-300x169.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Making-a-Down-Payment-768x432.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Stockbakery \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/down-payment-man-writing-on-transparent-701905726\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/down-payment-man-writing-on-transparent-701905726\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>&nbsp;A larger down payment reduces the loan amount and interest paid over time, while no down payment can leave you owing more than the car is worth. Aim to make a substantial down payment to lower your overall costs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rolling_Over_Existing_Debt\"><\/span><strong>Rolling Over Existing Debt<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Rolling-Over-Existing-Debt.jpg\" alt=\"\" class=\"wp-image-23151\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Rolling-Over-Existing-Debt.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Rolling-Over-Existing-Debt-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Rolling-Over-Existing-Debt-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Light And Dark Studio \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/interest-rates-text-on-paper-sheet-430939279\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/interest-rates-text-on-paper-sheet-430939279\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Adding existing debt from a previous car loan into your new loan increases your total debt and interest payments. This can make your financial situation more precarious and lead to higher overall costs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Skipping_the_Fine_Print\"><\/span><strong>Skipping the Fine Print<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"527\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Fine-Print.jpg\" alt=\"\" class=\"wp-image-23152\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Fine-Print.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Fine-Print-300x158.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Skipping-the-Fine-Print-768x405.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Orathai Mayoeh \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/car-dealer-businessman-signing-insurance-document-1972788395\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/car-dealer-businessman-signing-insurance-document-1972788395\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Not reading the loan agreement thoroughly can result in missing important clauses that may negatively affect your finances. Always read and understand all terms and conditions before signing any loan documents.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Underestimating_Insurance_Costs\"><\/span><strong>Underestimating Insurance Costs<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Underestimating-Insurance-Costs.jpg\" alt=\"\" class=\"wp-image-23153\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Underestimating-Insurance-Costs.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Underestimating-Insurance-Costs-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Underestimating-Insurance-Costs-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Rawpixel.com \/<a href=\"https:\/\/www.shutterstock.com\/image-photo\/car-insurance-policies-safety-coverage-concept-401462878\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/car-insurance-policies-safety-coverage-concept-401462878\" target=\"_blank\" rel=\"noopener\"> Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Higher insurance premiums for newer or more expensive cars can strain your budget. Factor in insurance costs when calculating your total cost of ownership to avoid unexpected financial burdens.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financing_Through_the_Dealer_Without_Checking_Other_Options\"><\/span><strong>Financing Through the Dealer Without Checking Other Options<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Through-the-Dealer.jpg\" alt=\"\" class=\"wp-image-23154\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Through-the-Dealer.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Through-the-Dealer-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Financing-Through-the-Dealer-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: DuxX \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/middle-age-couple-choosing-buying-car-1487497124\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/middle-age-couple-choosing-buying-car-1487497124\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Dealer financing might not always offer the best rates compared to banks or credit unions. Always explore multiple financing options to ensure you&#8217;re getting the best deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Not_Budgeting_for_Car_Ownership_Costs\"><\/span><strong>Not Budgeting for Car Ownership Costs<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Budgeting-for-Car-Ownership-Costs.jpg\" alt=\"\" class=\"wp-image-23155\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Budgeting-for-Car-Ownership-Costs.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Budgeting-for-Car-Ownership-Costs-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Not-Budgeting-for-Car-Ownership-Costs-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: J.J. Gouin\/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/car-key-vehicle-warranty-repair-bill-1855383697\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/car-key-vehicle-warranty-repair-bill-1855383697\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Overlooking ongoing costs such as maintenance, insurance, and fuel can lead to financial strain. Create a comprehensive budget that includes all car ownership expenses to ensure you can afford the vehicle long-term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Borrowing_More_Than_You_Can_Afford\"><\/span><strong>Borrowing More Than You Can Afford<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Borrowing-More-Than-You-Can-Afford.jpg\" alt=\"\" class=\"wp-image-23156\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Borrowing-More-Than-You-Can-Afford.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Borrowing-More-Than-You-Can-Afford-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Borrowing-More-Than-You-Can-Afford-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Madcat_Madlove \/ <a href=\"https:\/\/www.shutterstock.com\/image-photo\/glass-bottle-coin-stack-money-toy-1917173318\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/glass-bottle-coin-stack-money-toy-1917173318\" target=\"_blank\" rel=\"noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Taking on a loan that stretches your budget too thin can lead to missed payments and financial stress. Ensure your loan fits comfortably within your budget to maintain financial stability and avoid potential defaults.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Neglecting_to_Negotiate_the_Car_Price\"><\/span><strong>Neglecting to Negotiate the Car Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Neglecting-to-Negotiate-the-Car-Price.jpg\" alt=\"\" class=\"wp-image-23157\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Neglecting-to-Negotiate-the-Car-Price.jpg 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Neglecting-to-Negotiate-the-Car-Price-300x200.jpg 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/05\/Neglecting-to-Negotiate-the-Car-Price-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: R Photography Background \/<a href=\"https:\/\/www.shutterstock.com\/image-photo\/handshake-businessman-completes-successful-car-purchase-2357400089\" data-type=\"link\" data-id=\"https:\/\/www.shutterstock.com\/image-photo\/handshake-businessman-completes-successful-car-purchase-2357400089\" target=\"_blank\" rel=\"noopener\"> Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Focusing only on loan terms without negotiating the car price can result in paying more than necessary. Always negotiate the car price separately from the loan terms to get the best overall deal and reduce your loan amount.<\/p>\n\n\n\n<p>This article originally appeared&nbsp;in&nbsp;<strong><a href=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/\" data-type=\"link\" data-id=\"https:\/\/mycarmakesnoise.com\/general\/auto-loan-mistakes-you-must-avoid\/\">MyCarMakesNoise.<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"More_from_MyCarMakesNoise\"><\/span>More from MyCarMakesNoise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Top 20 Pickup Trucks Designed for Long-Distance Travel<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-294.png\" alt=\"\" class=\"wp-image-30623\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-294.png 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-294-300x200.png 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-294-768x512.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Jonathan Weiss \/&nbsp;<a href=\"https:\/\/www.shutterstock.com\/image-photo\/plainfield-circa-july-2022-chevrolet-colorado-2184462821\" target=\"_blank\" rel=\"noreferrer noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>For adventure seekers and road warriors, the right vehicle can make all the difference. Pickup trucks are ideal for those looking to combine daily functionality with rugged, long-distance travel capabilities. <strong><a href=\"https:\/\/www.msn.com\/en-us\/autos\/autos-trucks\/top-20-pickup-trucks-designed-for-long-distance-travel\/ss-AA1nZhlf?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=38\" data-type=\"link\" data-id=\"https:\/\/www.msn.com\/en-us\/autos\/autos-trucks\/top-20-pickup-trucks-designed-for-long-distance-travel\/ss-AA1nZhlf?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=38\" target=\"_blank\" rel=\"noopener\">Read More<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Top_20_Legendary_Fighter_Jets_in_Military_History\"><\/span>The Top 20 Legendary Fighter Jets in Military History<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-295.png\" alt=\"\" class=\"wp-image-30624\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-295.png 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-295-300x200.png 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-295-768x512.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Paul Drabot \/&nbsp;<a href=\"https:\/\/www.shutterstock.com\/image-photo\/biggin-hill-kent-uk-june-7-28507036\" target=\"_blank\" rel=\"noreferrer noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Fighter jets have played a crucial role in shaping the outcomes of conflicts and securing air dominance throughout military history. From the sleek designs of World War II to the advanced technology of modern jets, these aircraft have become legends in their own right. <strong><a href=\"https:\/\/www.msn.com\/en-us\/travel\/tripideas\/the-top-20-legendary-fighter-jets-in-military-history\/ss-BB1oN5L7?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=39\" data-type=\"link\" data-id=\"https:\/\/www.msn.com\/en-us\/travel\/tripideas\/the-top-20-legendary-fighter-jets-in-military-history\/ss-BB1oN5L7?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=39\" target=\"_blank\" rel=\"noopener\">Read More<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"13_Vintage_Convertible_Classics_That_Never_Go_Out_of_Style\"><\/span>13 Vintage Convertible Classics That Never Go Out of Style<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-296.png\" alt=\"\" class=\"wp-image-30626\" srcset=\"https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-296.png 1000w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-296-300x200.png 300w, https:\/\/mycarmakesnoise.com\/wp-content\/uploads\/2024\/06\/image-296-768x512.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption class=\"wp-element-caption\">Image Editorial Credit: Heinsdorff Jularlak \/&nbsp;<a href=\"https:\/\/www.shutterstock.com\/image-photo\/xantengermanyseptember-192021-1957-porsche-356a-speedster-2062650404\" target=\"_blank\" rel=\"noreferrer noopener\">Shutterstock.com<\/a><\/figcaption><\/figure><\/div>\n\n\n<p>Vintage convertibles have an undeniable allure that transcends generations, epitomizing the essence of open-air driving with their iconic designs and robust performance. These timeless classics symbolize freedom and style, captivating collectors and driving enthusiasts worldwide. <strong><a href=\"https:\/\/www.msn.com\/en-us\/autos\/enthusiasts\/13-vintage-convertible-classics-that-never-go-out-of-style\/ss-AA1nEQ9j?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=45\" data-type=\"link\" data-id=\"https:\/\/www.msn.com\/en-us\/autos\/enthusiasts\/13-vintage-convertible-classics-that-never-go-out-of-style\/ss-AA1nEQ9j?ocid=msedgntp&amp;pc=ASTS&amp;cvid=4da85d89f95d4683bc070919383262e9&amp;ei=45\" target=\"_blank\" rel=\"noopener\">Read More<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Navigating the world of auto loans can be tricky, and making the wrong choices can cost you dearly. To help you steer clear of common&#8230;<\/p>\n","protected":false},"author":2,"featured_media":23151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[28],"class_list":["post-23139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-msn-slideshow","wpcat-11-id"],"_links":{"self":[{"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/posts\/23139"}],"collection":[{"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/comments?post=23139"}],"version-history":[{"count":7,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/posts\/23139\/revisions"}],"predecessor-version":[{"id":40184,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/posts\/23139\/revisions\/40184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/media\/23151"}],"wp:attachment":[{"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/media?parent=23139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/categories?post=23139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycarmakesnoise.com\/wp-json\/wp\/v2\/tags?post=23139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}