If you want to earn credit card rewards for your spending—and you can pay off the balance in a month or two—it could be a wise move that could reap big rewards. But it's a bad idea if you can’t afford a car and don’t want to apply—or don’t think you’ll qualify—for an auto loan. Downright terrible, in fact.
So before you lace your shoes and head to the dealership, plastic rectangle in hand, it’s crucial to weigh the pros and cons of this purchasing scenario. Doing so could save you a headache—and a whole lotta money.
