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    show that the average auto loan is issued for 101% of the purchase price. How can that be? It turns out that many Americans, in th
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    The automobile has long been recognized as the classic American status symbol. America’s millions of miles of roads and overall lack of long-distance mass transit leave the automobile as the primary method of transportation for most Americans. Because so many people spend so much time in their cars, they often use them to make a personality statement. The car is an extension of the driver. Unfortunately, the debt incurred to pay a car is also often an extension of the driver’s own financial problems.

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    of long-distance mass transit leave the automobile as the primary method of transportation for most Americans. Because so many people spend so much time in their cars, they often use them to make a personality statement. The car is an extension of the driver. Unfortunately, the debt incurred to pay a car is also often an extension of the driver’s own financial problems.

    Recent statistics show that the average auto loan is issued for 101% of the purchase price. How can that be? It turns out that many Americans, in th

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    le spend so much time in their cars, they often use them to make a personality statement. The car is an extension of the driver. Unfortunately, the debt incurred to pay a car is also often an extension of the driver’s own financial problems.

    Recent statistics show that the average auto loan is issued for 101% of the purchase price. How can that be? It turns out that many Americans, in th

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    ortunately, the debt incurred to pay a car is also often an extension of the driver’s own financial problems.

    Recent statistics show that the average auto loan is issued for 101% of the purchase price. How can that be? It turns out that many Americans, in th

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    show that the average auto loan is issued for 101% of the purchase price. How can that be? It turns out that many Americans, in their desire to maintain status, usually trade their cars in for a new one while they still owe money on it. The high rate of depreciation on new cars means that consumers often owe more money on their auto loans than their cars are worth, and they make the situation worse by trading in that car on a new one while still owing money on the old one. They simply consolidate the balance of the old loan with the principal of the new loan.

    Auto manufacturers hit us with a constant barrage of advertising for the latest and great

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