01-21-2010, 01:46 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: Feb 2009
Location: Northern VA
Posts: 55,385
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Quote:
Originally Posted by yubman
Solid advice. Many people only look at the monthly payment and totally forget the interest paid adds to the overall cost of the loan.
Also if you intend to pay extra, payments made early on save more interest than extra paid near the end of the loan.
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Yup. Aside from failing to negotiate the selling price, it's probably the biggest mistake a buyer can make. It happens all the time as was evidenced in a thread from the other day. 
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