Photographer: Daniel Acker/Bloomberg

Here's a Smart Trade-Off for New Car Buyers

Those great-sounding loan terms aren't nearly so great for consumers in the long run

The latest numbers on new car buying show that a flurry of purchases in May lifted the annualized sales rate to 17.8 million. That's well ahead of the 16.7 million pace from a year ago, and it's the highest level in 10 years. No surprise, most consumers are borrowing to make the purchase.

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