November 25, 2013
The salesperson wants you to think solely about the monthly payment. That is unwise. What should you focus on? Why?
The salesperson wants you to think solely about the monthly payment. That is unwise. What should you focus on? Why?
You should focus on the whole cost of whatever you are buying, just not the parts. Figure out the base price, price after taxes, and all of the extra you will end up paying from interest. If you take a holistic approach of viewing costly purchases you can be more reasonable about what you can really afford. Take time and reflect after the initial sticker shock, your wallet will thank you!
That was a great answer, Alex. Well done! I have nothing to add.