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.

A Millennial’s Guide to Getting Your First Car Loan

A Millennial’s Guide to Getting Your First Car Loan

A Millennial’s Guide to Getting Your First Car Loan

Buying a car is almost a rite of passage. Making that first car purchase, negotiating with the seller, and arranging financing (if you need an auto loan) all require a certain amount of savvy. And, once you successfully achieve the car-buying milestone, another signpost looms in the distance: Refinancing. Whether you’re getting an auto loan... Read More

7 Tips for Deciding How Much Car You Can Afford

7 Tips for Deciding How Much Car You Can Afford

7 Tips for Deciding How Much Car You Can Afford

According to the most recent State of the Automotive Finance Market study from Experian, the average new car loan surged to a shocking $30,534 during the first quarter of the year. Unfortunately, those purchasing new cars didn’t lower their expenses that much. The study noted that the average used car from a franchise set consumers... Read More

Pros and Cons of Having a Car on Campus During Your Freshman Year

Pros and Cons of Having a Car on Campus During Your Freshman Year

Pros and Cons of Having a Car on Campus During Your Freshman Year

As college drew nearer, I had visions of throwing all my belongings into the back of my Toyota Tacoma and driving off into adulthood. My parents had another idea—leaving the truck at home. They said that not having a car on campus would save me time, money, and the occasional headache. It would allow me... Read More

Leasing a Car: 7 Reasons Why You Should Consider It

Leasing a Car: 7 Reasons Why You Should Consider It

Leasing a Car: 7 Reasons Why You Should Consider It

Would you like to spend less money up-front, drive away from the dealership in a brand-new car, and spend less time and money on vehicle maintenance? Consider leasing your next car. What Does Leasing a Car Mean? Leasing a car is a lot like renting one—but for a much longer period of time. When you... Read More

4 Questions to Ask Yourself Before Leasing or Buying a Car

4 Questions to Ask Yourself Before Leasing or Buying a Car

4 Questions to Ask Yourself Before Leasing or Buying a Car

When you’re looking for a new car, it can be difficult to decide whether buying one outright or leasing one for a period of time makes more sense. It’s true that cars only go down in value the longer you own them, but there are still some solid arguments for owning one outright rather than... Read More

How to Deal with an Underwater Car Loan When You Can’t Sell

How to Deal with an Underwater Car Loan When You Can’t Sell

How to Deal with an Underwater Car Loan When You Can’t Sell

According to experts at the automotive website Edmunds, a new car loses up to $7,419 of its value during the first year on the road. Over the next three years, new cars lose an average of $5,976 in value, mostly due to age and wear and tear. This shows just how quickly a fancy new... Read More

Should I Buy or Lease My Next Car?

Should I Buy or Lease My Next Car?

Should I Buy or Lease My Next Car?

One of the most common questions I am asked as a financial planner is “should I lease or buy my car?” Leasing commercials on the radio make it sound like leasing a car is the only cheap, intelligent choice. However, it really depends on how you define “cheap.” If it means a lower monthly payment,... Read More

Can I Get a Car Loan If I Have No Credit?

Can I Get a Car Loan If I Have No Credit?

Can I Get a Car Loan If I Have No Credit?

Yes, lenders have auto loans for people with no credit, but getting one is not guaranteed. It will depend on the lender’s flexibility, the down payment you can afford, and the kind of car you want to buy. It may even depend on how you ask. Phil Reed, senior consumer advice editor for the consumer... Read More

My New Car Is a Piece of Junk. Can I Return It to the Dealer?

My New Car Is a Piece of Junk. Can I Return It to the Dealer?

My New Car Is a Piece of Junk. Can I Return It to the Dealer?

Once upon a time, you loved your car. You loved it so much that you agreed to the payment terms and drove it home from the dealer or, dare we say, a private seller. But now, that love has grown cold and you wish you’d never laid eyes on it. And to make matters worse,... Read More

10 Things You Need to Know before Buying a Car

10 Things You Need to Know before Buying a Car

10 Things You Need to Know before Buying a Car

Buying a new or used car can be an intimidating experience. Many car salespeople may pressure you to leave the lot with a purchased vehicle, so it’s crucial you’re armed with information about the cars you are interested in, the budget you can afford, and the value of your trade-in—if you have one. With these... Read More

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