Congratulations, you’ve bought a new car! Now the question is, what is the best way to pay for the loan you had to take out to get it? The answer to that question depends on your financial situation. However, the quicker you can pay off the loan, the better you will be. As long as you have a balance on your loan, it will be racking up interest charges and costing you more and more money.
One way to repay your car loan is in one lump sum payment. Has your tax return come in? Has some other large sum of(…)