Quote:
Originally Posted by legion
My sis-in-law buys a new car every six months--just rolls over the old car loan into the new one. At six months, no car is worth more than the loan balance.
|
She's going to be more and more upside down each time she does that unless she puts a lot of money down. Assuming she pays sales tax every time she does this, she should lease instead since you only pay tax on the monthly payments instead of the whole enchilada. I'm assuming she lives in a state that doesn't require all the tax up-front. I've heard of NY doing that.