There are many financial decisions that can be made without too much research and analysis. However, the most common impulsive buying decision that my Philadelphia Bankruptcy Law Office sees is with respect to automobiles. If you are able to read this blog, you have some sort of internet access, which means there is no excuse for an impulsive buying decision.
However, with respect to automobiles, there are numerous automobile information sites such as www.edmunds.com, www.kbb.com, www.nada.com. There is no such thing as the deal of a lifetime with respect to an automobile and doing your individual research can save you thousands of dollars in the price of the new car, value of trade-in and on financing terms. Moreover, if one wants to know their estimated car payment they may consult bankrate and utilize their automobile calculator. http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx. Please be advised that a longer payment term of years may reduce the monthly payment amount, however, the buyer will be paying interest for a longer period of time and the car will be depreciating quickly in value during the payment terms, usually causing an equitable deficiency.
Too many impulsive buying decisions and lack of planning may cause one to become financially overwhelmed and a bankruptcy may be the best option.
If there are any general questions or topics you would like to read about relating to bankruptcy law in the Philadelphia, Pennsylvania region, you may contact the Philadelphia Bankruptcy Lawyers at Sadek Law Offices, LLC at 215-545-0008 or email brad@sadek-cooper-site. Thank you.