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.
Every week it seems we hear from people who are driving a car they can’t afford and are trying to find a way out. It’s no surprise: the average car payment now has reached $483 for a new car and $361 for a used car, according to Experian Automotive. Unfortunately, these readers are also upside... Read More
Ready for a new car? If so, you’re likely asking yourself what type of car you want, whether to upgrade to a larger ride and which color you prefer. But here’s another question: Should you buy or lease? Most people finance their vehicles or pay in cash, but leasing has some benefits too. How do you decide? What Does Leasing... Read More
It’s mandatory for drivers to have car insurance, but that doesn’t mean it’s easy to figure out how much you should pay for it. Many factors determine your car insurance premium, not least of which are your insurance provider and your vehicle, but it’s important to know what really affects how much you’ll pay and... Read More
Getting new wheels can be exciting — and confusing. You’re trying to figure out what you want, what you need and what you can afford, comparing various models and features. And if you’re replacing a vehicle that has broken down for the last time or been totaled in an accident, you’re doing it on a... Read More
It seems logical that buying a used car would be generally more affordable than buying a new one, but that cost gap has grown recently, making used cars increasingly appealing to budget-minded consumers. The difference between the average monthly payment for a new car and that for a used car was $122 in the second quarter of... Read More
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
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
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
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
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
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