How Car Loans Work
I’m graduating soon, and I’m going to be on my own financially. One of the things I’m sure I’ll have to do pretty soon is buy a car, as I’ll be moving off campus and won’t necessarily have easy access to my new workplace. But I’m not sure I understand how car loans work. What determines the rates on those–it’s my credit, right? But how is my credit calculated? And should I even take out a car loan at all, or is taking on debt to buy a vehicle a bad idea? Experts, please help!