Missing regular car payments can create serious problems down the road. Your credit score will take an immediate downward spiral into trouble. Banks and lenders start sending frequent reminders and collection notices daily. Late payment charges quickly add up alongside your regular monthly payments. Each skipped payment makes catching up much more challenging every month….

Taking on debt to buy a car ties up your money for years. Car loans usually drag on between 3 to 6 years. And the longer they last, the more interest you pay to the lender. Paying your car off quicker puts cash back in your pocket faster by decreasing how much interest you pay…