Don’t get fooled by yo-yo financing

Here’s what we know about financing switcheroos, the next stimulus package and more [The Penny Hoarder] DAILY DAILY July 23, 2020 Hey Penny Hoarders, Remember when you were a kid and you’d watch people do yo-yo tricks and you thought they were so cool? Well, now that you’re an adult, you’re way less impressed by yo-yo tricks and way more impressed by things like low interest rates and good loan terms. (Oh, the joys of growing up...?) But did you know there’s something called “yo-yo financing” that can stick you with terrible loan terms and a sky-high interest rate? Well, there is, and we’re talking all about it today — plus, what we know so far about the next stimulus bill. [Debt]( Yo-Yo Financing: Don’t Let a Car Dealer Pull a Switcharoo on Your Loan Picture this: You’ve driven off the lot in your new (or at least new-to-you) car. You’re excited! That is, until you get a call from the dealership saying there’s a problem with your financing… and you’ll need to come back in. Now they’re saying you need to sign new terms — worse terms — but it sounds like you might not have a choice. Scary, right? Yo-yo financing is a tactic used by car dealerships that can cost you big on a car loan. Here’s how to watch out for it and not get snagged. [Read Now]( What We Know So Far There’s a lot at stake in the next stimulus bill: Will the $600 unemployment bonus be renewed? What about a second stimulus check? [Here’s everything we know so far as we await news on the next federal relief package](. [Budgeting]( [These 7 Tips Will Help You Keep Your Back-to-School Budget on Track]( by Nicole Dow “Do You Have Any Questions For Me?” This portion of the job interview is a fantastic way to make a lasting impression that sets you apart from the other candidates — or it can blow your chances of receiving an offer. We asked some hiring managers for the best and worst questions candidates have asked them during the interview process. [Here’s what they told us](. SPONSORED Today's Quick Picks - Not all of us keep everything neatly filed, color-coded, alphabetized and prioritized. And that’s OK. Here are seven things you can do — in seven days — to [get your finances under control](. - Ready to catch a break on your mortgage payments? It only takes 10 minutes to see if Figure can help you save hundreds of dollars on your mortgage payments. [Here’s how]( Follow us on: [Facebook]( [Instagram]( [Twitter]( [Pinterest]( [YouTube]( [SHARE WITH A FRIEND](mailto:?subject=Check out this newsletter from The Penny Hoarder&body=Hey!%0D%0A%0D%0AI've been reading The Penny Hoarder newsletters and thought you'd be interested too.%0D%0A%0D%0AI get smart tips and strategies for making and managing money delivered straight to my inbox. Let The Penny Hoarder help you re-prioritize and improve your finances. Click here to see the newsletter I just read!%0D%0A%0D%0Ahttps%3A%2F%2Flinks.thepennyhoarder.com%2Fe%2Fevib%3F_t%3D23a8fe520b1043d0ac0c91a3ebd443bb%26amp%3B_m%3Daa91ed6bf4fe4a5c89cd008abff20d35%26amp%3B_e%3DvAguzC5bqQJLCUZK9-iLwDDbHaeGfP9856t3GytrX0-IxlO-X__UVz3v-Rs7M6cq-9tf-4c2WWwmyi3uflja7kUBMfUulVMp951xFluddJm8j2fY7cDvWIOdTCI-fxnF%0D%0A%0D%0A%0D%0AIf you like what you see, sign up using the link below.%0D%0A%0D%0A [Image] The Penny Hoarder | 490 1st Ave S, Suite 800 | Saint Petersburg, Florida 33701 | United States [Update mailing preferences](. If you no longer wish to receive emails, [unsubscribe here](. Questions? View our [Privacy Policy](. [View this message in browser](. 1Terms and conditions apply. Visit Figure.com for details. Figure Lending LLC is an Equal Opportunity Lender. NMLS #1717824