Can I borrow my way out of debt to buy a car?

Can I borrow my way out of debt to buy a car?

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Borrowing your way out of debt in order to buy a new car is a way of handling it, and there are many dealers and their finance companies which are more than happy to help you. But that's only really for the advantage of the finance company. What this would mean would be taking all of your current debt, putting it into a new loan, charging you a potentially a higher interest rate than you would have had on all those loans individually and giving you one payment. But, over time you'll be paying more for that payment than you would if you just did the right thing, and lived within your means in the first place.