{"id":23350,"date":"2011-01-28T00:00:00","date_gmt":"2011-01-28T00:00:00","guid":{"rendered":"https:\/\/nomoredebts.org\/?page_id=23350"},"modified":"2021-01-04T21:38:40","modified_gmt":"2021-01-04T21:38:40","slug":"what-to-watch-out-for-with-new-car-ads","status":"publish","type":"post","link":"https:\/\/nomoredebts.org\/blog\/buying-house-car\/what-to-watch-out-for-with-new-car-ads","title":{"rendered":"Car Debt &#038; High Interest Rates, What to Watch Out for with New Car Ads"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.6.5&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||||false|false&#8221; custom_margin_last_edited=&#8221;off|desktop&#8221; top_divider_style=&#8221;curve2&#8243; top_divider_color=&#8221;#e7dff3&#8243; top_divider_flip=&#8221;horizontal|vertical&#8221; bottom_divider_style=&#8221;curve2&#8243; bottom_divider_color=&#8221;#5b25af&#8221; bottom_divider_height_tablet=&#8221;80px&#8221; bottom_divider_height_phone=&#8221;50px&#8221; bottom_divider_height_last_edited=&#8221;on|phone&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221; da_disable_devices=&#8221;off|off|off&#8221;][et_pb_row _builder_version=&#8221;4.6.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.6.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.7.7&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h1>Car Debt &#8211; High Interest Rates | What to Watch Out for with New Car Ads<\/h1>\n<p><em>Q: I&#8217;m thinking about replacing my car. Looking at the new car ads and financing options available, it seems like now is a great time to buy. What do I need to consider when looking at the ads?<\/em><img decoding=\"async\" class=\"fright\" style=\"width: 210px; height: 152px; float: right;\" alt=\"What to watch out for with new car ads and vehicle debt.\" src=\"https:\/\/nomoredebts.org\/wp-content\/uploads\/2021\/01\/New-Car-Promo-small.jpg\"><\/p>\n<p>A: The sole purpose of a car ad is to get you onto the car lot. The ads are enticing, making it seem easy to afford a new vehicle.<\/p>\n<p>Here are a few things to keep in mind as you look at the advertising:<\/p>\n<ul>\n<li><strong>Weekly payments<\/strong>&nbsp;\n<ul>\n<li>Most people don&#8217;t budget for weekly loan payments, so while a weekly payment amount may look small, it&#8217;s wise to calculate what the equivalent biweekly or monthly payment amount would be if you&#8217;re considering the loan the dealer is offering.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Cash back to pay off credit cards or go on vacation<\/strong>\n<ul>\n<li>While it may seem like a great offer, the extra cash is added to the price of the vehicle. If you are financing your new car through the dealer, your loan will be higher and for more than the purchase price.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Zero-per-cent financing for 48 months<\/strong>\n<ul>\n<li>When the dealer processes your credit application, your credit score will determine if you qualify for zero-per-cent financing.<br \/>\nOnly clients with really solid credit ratings qualify for the best rates. The great deal on the car may not be so great if your loan rate is seven per cent or higher.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Buyout at the end of your loan<\/strong>\n<ul>\n<li>Sometimes the low-interest period &#8212; for example, 48 or 60 months &#8212; won&#8217;t be long enough for you to repay the entire car loan with monthly payments you can afford. If this is your situation, be aware that there may be a buyout at the end of your loan.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>People are typically familiar with buyouts at the end of a lease, but not a loan.<\/p>\n<p>When considering whether a new vehicle is right for you, do your homework before talking to a dealer.<\/p>\n<p>Consider what you can afford each month for payments, insurance and maintenance.<\/p>\n<p>To maintain the warranty on a new vehicle you must stick to the required maintenance schedule laid out in the owner&#8217;s manual. Many dealers have additional maintenance suggestions that can amount to costly extras you didn&#8217;t anticipate.<\/p>\n<p>It&#8217;s easy to dream about being behind the wheel of a shiny new vehicle but without a little planning your new car can turn dreams into a financial nightmare.<\/p>\n<p><a href=\"https:\/\/nomoredebts.org\/blog\">&lt;&lt; Back to the Blog<\/a><\/p>\n<p>&nbsp;[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sole purpose of a car ad is to get you onto the car lot. Ads are enticing, making it seem easy to afford a new vehicle. Here are a few things to keep in mind as you look at the advertising&#8230;<\/p>\n","protected":false},"author":3,"featured_media":24376,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"1080","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[115],"tags":[],"class_list":["post-23350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-house-car"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v24.8.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Car Debt &amp; High Interest Rates, What to Watch Out for with New Car Ads<\/title>\n<meta name=\"description\" content=\"The sole purpose of a car ad is to get you onto the car lot. Ads are enticing, making it seem easy to afford a new vehicle. Here are a few things to keep in mind as you look at the advertising...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nomoredebts.org\/blog\/buying-house-car\/what-to-watch-out-for-with-new-car-ads\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Car Debt &amp; High Interest Rates, What to Watch Out for with New Car Ads\" \/>\n<meta property=\"og:description\" content=\"The sole purpose of a car ad is to get you onto the car lot. Ads are enticing, making it seem easy to afford a new vehicle. Here are a few things to keep in mind as you look at the advertising...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nomoredebts.org\/blog\/buying-house-car\/what-to-watch-out-for-with-new-car-ads\" \/>\n<meta property=\"og:site_name\" content=\"Credit Counselling Society\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nomoredebts\" \/>\n<meta property=\"article:published_time\" content=\"2011-01-28T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-04T21:38:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/11\/car-promo_feature_blog.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"284\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Josh Hunt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CrdtCounselSoc\" \/>\n<meta name=\"twitter:site\" content=\"@CrdtCounselSoc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Josh Hunt\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Car Debt & High Interest Rates, What to Watch Out for with New Car Ads","description":"The sole purpose of a car ad is to get you onto the car lot. 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