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.

Should I Buy a Used Rental Car?

Should I Buy a Used Rental Car?

Should I Buy a Used Rental Car?

Rental cars often get a bad rap. Since drivers are only borrowing the vehicle for a short period of time, conventional wisdom goes that they won’t treat the car very well. So most would think that purchasing a questionably treated rental car is a poor financial decision. While a privately owned used car might have... Read More

Does My Co-Signer Own My Car?

Does My Co-Signer Own My Car?

Does My Co-Signer Own My Car?

Co-signing is a topic our readers ask about often. It’s not surprising, given how complicated it can get when you tie your credit to someone else. The messiness of co-signing is actually a bit ironic, considering that it often seems like a simple solution (asking someone you’re close to for help) to a big problem (not... Read More

How Much Will a Car Repossession Hurt My Credit Score?

How Much Will a Car Repossession Hurt My Credit Score?

How Much Will a Car Repossession Hurt My Credit Score?

In most parts of the country, having a car isn’t optional. Without your own vehicle, it can be extremely difficult to get to work or provide for your family, but at the same time, car ownership can be a challenge. If you find yourself having trouble making your car payments, you could end up losing your... Read More

Could Driving Less Get You a Lower Car Insurance Rate?

Could Driving Less Get You a Lower Car Insurance Rate?

Could Driving Less Get You a Lower Car Insurance Rate?

Imagine your car insurance bill was based on specifically how many miles you drove in a month instead of a blanket estimate. This is exactly what the auto insurance startup, Metromile, is offering drivers in the seven states it currently serves — California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia and Washington. How Metromile Works Metromile,... Read More

Auto Loan Debt Tops $1 Trillion

Auto Loan Debt Tops $1 Trillion

Auto Loan Debt Tops $1 Trillion

Auto loan debt in the U.S. sped past the trillion-dollar mark again this year, according to the Experian State of the Automotive Finance Market report released Thursday. “Automotive financing certainly has started off the year with a bang, seeing steady growth in balances and loan volumes throughout the first quarter,” Melinda Zabritski, senior director of... Read More

What to Do When You Owe More on Your Car Than It’s Worth

What to Do When You Owe More on Your Car Than It’s Worth

What to Do When You Owe More on Your Car Than It’s Worth

A negative equity car loan — also referred to as being “upside down” or “underwater” on a loan — means you owe more on a vehicle than it’s worth, and it’s a more common scenario than you might think. Nearly one-third (31.4%) of car owners currently have a negative equity car loan, according to a... Read More

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