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New or used, we only buy 1x Payment plan cars, no monthlies also helps keep total spent in check.
Owning outright lets you choose Insurance too, no personal vehicle damage coverage if your fault etc.
Higher Interest not only affects car payment itself but also amount available for it w/ mortgage/other monthlies included so whether new mortgages or current renewals at twice or whatever rate of borrower’s existing = car payments don’t fit total ratio for mortgage approval etc.
~ Pete
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