Are you asking yourself if getting a car loan is a wise decision? It’s no joke to sign on for another 4 or 5 year loan plan if you’re had a hard time with previous loans. Even if you recently got a raise or money to put down a hefty down payment on a brand new car, you’ll still be saddled with months of amortization payments. How rock solid is your financial situation keeping mind that fortunes have been known to disappear within days?

This isn’t a tactic to discourage you from buying a new car but a gentle reminder that the future is uncertain. America and the rest of the world are all facing tremendous economic strain and pressure. At the same time, no on wants to stop the economy from churning by bringing down new car sales. On your part, you can do something proactive to help the economy, and that would be to avoid getting a loan you may default on.  You have other options:

Buy a used car in good condition. There are used cars that have barely seen any road action. Many are also later models and not clunkers as you would automatically imagine. You might be surprised that you can afford to buy a used car after all.

You could start shopping for a used car and get a car loan but for a smaller, more manageable amount. This would mean you pay a very low monthly amortization or you carry the loan for a shorter period.

Before anything else, you need to be open to the idea of getting a used car. Maybe looking at what’s available online or in used car lots might change your mind.

Once you are okay with buying a used car, next on your agenda would be to find a trustworthy  seller. Again, you can find them on the internet and use the internet to do some spy work on their business. Find out through other people what experiences they have had, and even get an idea of which website to stay away from.