Auto Loans

When it comes to auto loans, we want to help you make smarter financial decisions. Our experts explain the in’s & out’s of car loans, highlight the types of loans available – their advantages and disadvantages – and how to improve your chances of getting approved. We also alert you to car loan scams you should avoid, changes in rates and new auto loan features.

4 Car-Buying Add-ons You Should Watch Out For

4 Car-Buying Add-ons You Should Watch Out For

4 Car-Buying Add-ons You Should Watch Out For

Negotiating a car price can be exhausting. And just when you think you’re all done, you may discover — thanks to add-on costs — the price you’ve agreed on isn’t the one you’ll actually pay. In fact, you may even be told you can’t get out of it, because the add-on has already been added… Read More

How to Avoid Used Car Loan Gotchas

How to Avoid Used Car Loan Gotchas

How to Avoid Used Car Loan Gotchas

Used cars have always appealed to the budget-conscious shoppers because of their low prices, but there’s always been a drawback — used car loans. Until recently, bank loans for used cars were tricky to get, and were much more expensive than new car loans. But that’s changing. With car dealers successfully edging banks out of… Read More

Car Shopping? The Most Important Choice You’ll Make

Car Shopping? The Most Important Choice You’ll Make

Car Shopping? The Most Important Choice You’ll Make

For many of us, buying a car is one of the biggest purchases we make. While it might only take a couple minutes of browsing the Internet to find the one that’s right for you, figuring out the best way to pay for it isn’t always as easy. Whether you decide to lease, finance or… Read More

A Car Lending Change That Both Borrowers & Lenders Can Get Behind

A Car Lending Change That Both Borrowers & Lenders Can Get Behind

A Car Lending Change That Both Borrowers & Lenders Can Get Behind

The Consumer Financial Protection Bureau has reportedly made an offer to a leading auto lender that it can’t refuse. According to a recent Wall Street Journal article, the regulatory agency is proposing a dealer incentive of sorts to Fifth Third Bank: If the lender agrees to limit the interest-rate markups that auto dealerships and brokers,… Read More

Are You Ready to Buy Your First Car?

Are You Ready to Buy Your First Car?

Are You Ready to Buy Your First Car?

When I lived in Washington, D.C., right after college, I was the only one of five roommates who had a car. The townhouse we rented was just three blocks from a Metro station which meant that for most of us, it wasn’t necessary. But when my employer moved to the Virginia suburbs, I had no… Read More

We Bought a Car & My Wife Lost Her Job. Now What?

We Bought a Car & My Wife Lost Her Job. Now What?

We Bought a Car & My Wife Lost Her Job. Now What?

A reader reached out to us recently with a question that is the stuff of nightmares: I bought my car last Wednesday brand new. I find out today my wife was getting furloughed and we won’t be able to afford the note, what options do I have? When your financial resources change for the worse,… Read More

Americans Are Holding Onto Their Cars Longer Than Ever

Americans Are Holding Onto Their Cars Longer Than Ever

Americans Are Holding Onto Their Cars Longer Than Ever

For years, Americans have been driving older and older cars, bringing the average age of vehicles in operation to 11.5 years at the start of this year — that’s the highest it has been since analytics company IHS Automotive started tracking the metric. Americans continue to drive increasingly older cars partly because vehicle quality has… Read More

Can I Get Someone to Take Over My Car Payments?

Can I Get Someone to Take Over My Car Payments?

Can I Get Someone to Take Over My Car Payments?

If you can’t make your car payments, can you just find someone who can? Credit.com blog reader Carlos asks: I have had my car for 5 months my payment is $330 but I will soon be getting married and getting my own place. I have tried to advertise my car and have someone take over… Read More

8 Tips for Buying Your Next Car for Less

8 Tips for Buying Your Next Car for Less

8 Tips for Buying Your Next Car for Less

It’s a well-known fact that after a house, a vehicle is probably the biggest purchase you will ever make. Unfortunately, while your house might gain value over time, your car eventually will turn into a nearly worthless hunk of metal, plastic and upholstery. Rather than pour oodles of cash into your next purchase, use these eight tips to spend… Read More

How to Buy a Used Car From a Private Seller

How to Buy a Used Car From a Private Seller

How to Buy a Used Car From a Private Seller

One of the easiest ways to save money, and avoid debt, is to buy used cars instead of new. But once you decide that used is for you, there’s a second way to potentially save thousands of dollars — buy privately instead of from a dealer. There are plenty of potential pitfalls in private sales, which… Read More

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