1. If you were trying to decide whether to take out an auto loan for $6500 to buy your first car, thereby allowing you to commute for an impressive summer internship program next year, that loan <u><em>would not</em></u> meet the requirements.
Is it necessary?
No, travelling can be done by other means.
Do the monthly payments fit in your budget?
<em>Maybe</em>
Could you save instead of borrow?
Yes <em>saving for the whole year is better than borrow.</em>
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Is it worth the added interest?
No, <em>its not worth the added interest.</em>
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<em>All of the answers indicate that the loan </em><em>does not </em><em>meet the requirements.</em>
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<em>Paying a huge amount of interest for something which is not that necessary is useless.</em>
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