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Title, Registration & Fees

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Auto Loan Tips

How Much Car Can You Afford?

Financial experts recommend keeping your total car expenses (payment, insurance, gas, maintenance) under 15-20% of your monthly take-home pay. Your car payment alone should be 10% or less.

New vs Used Cars

New: Warranty coverage, latest features, higher price, faster depreciation
Used: Lower price, slower depreciation, potential maintenance costs
Cars depreciate 20-30% in the first year alone
Consider certified pre-owned for warranty protection on used cars

Getting the Best Rate

Shop around - compare rates from banks, credit unions, and dealers
Credit unions often offer lower rates than banks
Get pre-approved before shopping to know your budget
Improve your credit score before applying for better rates
Larger down payment (20%+) can qualify you for better rates
Shorter loan terms typically have lower interest rates

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