Carefully Explore Auto Loan Options
October 30, 2008
Making good on any kind of big purchase requires you to be informed about what you’re buying. This holds true especially for automobiles. When you go to the dealership, the worst thing you could possibly do to yourself is to show up uninformed and with the desire to drive away with something that day. Dealer salesman will home in on you like a shark to a school of fish, sniffing your exploitable naivety from miles away. Don’t let this happen to you. Know what you’re getting into ahead of time, especially when the matter of obtaining a car loan is in order. Read more
Automotive Financing Depends Heavily On Credit
October 29, 2008
When buying a vehicle, you often have several opportunities to pursue to obtain a vehicle. However, in almost every case, purchasing a new car involves auto financing. Cars are expensive, but they’re necessary for modern lifestyles and gainful employment. That’s why you have the possibility of obtaining a car after acquiring the assistance of an automotive loan. But just like any other loan, you have to pay it back, and the amount you’ll owe will ultimately depend on your credit, among other things. Read more
Troubles With Delinquent US Auto Loans
October 20, 2008
According to recent reports, the number of auto loan delinquencies is on the increase. With more Americans facing serious financial setbacks due to the downturn of the national economy, keeping up on car and truck loans has become difficult if not impossible for some.
The report, submitted by Experian Automotive, states that there are now almost $25 million in past due auto loans in the US. This amount includes figures for the second quarter of 2008; A 9% increase in loans 30 days past due and 11% for loans 60 days past due. Read more
What Is A Title Loan?
October 17, 2008
A title loan works much in the same way as a payday loan. Used primarily by sub prime borrowers these loans are seen as a last resort; when there are just no other options. Many consumer advocacy groups keep close watch over title loan lenders since many of the borrowers tend to be in a desperate situation.
The title loan is a type of secured loan; where a payday loan is unsecured yet both types are used as a quick fix often to pay immediate bills or to pay for living expenses. Car owners are offered up to 50% of their car’s resale value though this number is often significantly less. The APR or annual percentage rate, is generally very high often in the triple digits and can reach up to 300%. This fact makes title loans extremely dangerous. Read more
The Consequences of Cosigning Your Loan
October 15, 2008
If you have lower-income family members or friends, or younger family members just starting out life on their own, chances are, at some point, you’ll be asked to cosign a loan. Perhaps, you yourself have at one point or another found yourself in the position of having to ask for well-off friend or family member to be your cosigner. Read more
Is Your Auto Loan Too Long?
October 13, 2008
When financing a new car, people seem to be willing to do anything for low monthly payments.
Right now, the average auto financing plan lasts 70 months–that’s almost six years. That trend for longer payments has only increased since last year. Last year, the average auto financing plan lasted 62 months. These days, expensive cars are beginning to feature nine-year financing plans. Moreover, some people take out additional loans, such as home equity loans, to pay off the cost of their vehicle, which they then gradually pay off over the course of 10 or more years. Read more
Credit Cards May Hurt Gas Prices in the Long Run
October 6, 2008
For the vast majority of Americans, having a credit card is a way of life. From shopping at retail to dining at restaurants, credit cards rule the economic landscape. Customers benefit by not having to carry cash, and the companies that issue cards make their money by means of charging businesses merchant fees in the form of a percentage that is taken from the total of a sale. Read more
Slumping Economy Affecting Luxury Auto Leases
October 6, 2008
There used to be a time when many Americans who bought luxury cars using loans could turn around and sell their vehicle for a profit after having paid their loan off. The value of the vehicles that they were purchasing was often worth considerably more than the residual values of their lease contracts. This meant that the amount the vehicle could be bought for was of a higher value than what was listed at the end of their lease. Read more
Saving Gas A Top Concern for Consumers
October 4, 2008
The nation has been experiencing some serious economic turbulence recently, and the challenges that confront the citizens of the nation are numerous. There’s the matter of the housing industry that has seen a huge plummet in real estate value, causing the market to all but disintegrate. People are left with property they can’t sell, and loan companies are unwilling to cooperate with most individuals that have less than stellar credit in order to help them obtain property themselves. Read more
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Recent Posts
- Getting a Good Deal On a Good Loan
- Working with Credit and Auto Loans
- Government Set To Bail Out Major US Automakers
- GMAC Cuts Auto Loans And Leases
- Car Loans Still Available Through Dealers
- US Markets Fear Damaging Deflation
- The Pros and Cons of Borrowing Credit
- Strict Auto Loans Beget Great Car Deals
- Drop in Gas Prices May Incite Economic Rebound
- A Decent Time for Auto Loans
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