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Chapter 7. Auto Loans > How Often You Buy Cars Matters, Too

How Often You Buy Cars Matters, Too

Too many people compound their vehicular overspending by trading in their cars for newer models too often. To illustrate how much of a difference it can make to trade in cars less frequently, let's use the example of twins Jordan and Morgan.

Jordan and Morgan each buy their first new car on their 25th birthday. Both borrow $20,000 for the purchase and pay off the loans over five years at 6% interest.


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