I remember when I bought my first car, now some 10 years ago. The thing that stuck in my mind about the whole transaction was signing a big pile of papers. They were called bills of exchange and they each one was equivalent to each payment I’d be paying over the next few years. Quite an unwieldy way to sort out finance.
Today finance has become a lot simpler, where you can walk into a financial institution and sign your future earnings away in a few minutes. And you don’t even need a good credit history to buy a car as there are companies who specialise in Bad Credit Auto Loans who will help you buy a car even if your credit is far from perfect.
It’s great to watch how times change and how financial opportunities are so much more plentiful now. The only problem is that it’s pretty easy to borrow more than you can afford to pay back and get yourself in quite a bind. So watch out when borrowing money, and always recognise your limitations
