Does a Lower Loan Payment Come at a Big Cost?

Personal Finance

Does a Lower Loan Payment Come at a Big Cost?

Does a Lower Loan Payment Come at a Big Cost?

Are we looking at yet another consumer bubble? The stock market is up, inflation is down, and although wages have not yet returned to their pre-crash levels, household incomes are beginning to gain ground. So when the Federal Reserve Bank of New York recently reported a $117 billion increase in aggregate household indebtedness, some viewed… Read More

Is There a Subprime Car Loan Bubble?

Auto Loans

Is There a Subprime Car Loan Bubble?

Is There a Subprime Car Loan Bubble?

Auto loans are hot. Consumers can’t seem to get enough of them, and the average loan has soared from $14,700 to $17,400 in the past five years, according to TransUnion. Wall Street can’t get enough of them either: Santander Consumer USA just sold off $700 million of its subprime loans to investors within a few… Read More

Can You Refinance a Car?

Auto Loans

Can You Refinance a Car?

Can You Refinance a Car?

If investing 15 minutes would save you $50 a month for the next three years, would you do it? That seems like a no-brainer, but you’d be surprised how many people are passing up a similar deal. That would be a total savings of $1,800 or, put another way, that 15 minutes would be an opportunity… Read More

3 Ways Identity Theft Can Affect Car Buyers

Identity Theft

3 Ways Identity Theft Can Affect Car Buyers

3 Ways Identity Theft Can Affect Car Buyers

With good credit, buying a big-ticket purchase like a car should be a smooth process. However, if car buyers are victim to identity theft scams, they may struggle with getting the vehicle they originally had their eyes on. While car thieves could steal a vehicle worth thousands of dollars, identity thieves could do more serious financial damage…. Read More

The 5 Car Brands With the Most Loyal Drivers

Auto Loans

The 5 Car Brands With the Most Loyal Drivers

The 5 Car Brands With the Most Loyal Drivers

Many things go into the decisions you make when buying a car: cost, fuel economy, appearance, body type, and so on. For some people, the company that designed and manufactured the car weighs heavily into this choice. That’s not too surprising — brand loyalty is often a huge part of consumer purchases — but it’s… Read More

Will Your Debt Payments Go Up in 2015?

Managing Debt

Will Your Debt Payments Go Up in 2015?

Will Your Debt Payments Go Up in 2015?

Interest rates are expected to go up this year, which is great news if you’ve been discouraged by the next-to-nothing interest rates banks pay on your savings. But if you have a home equity line of credit or a credit card with an interest rate tied to the rates set by the Federal Reserve, you… Read More

8 Things You Need to Know Before Buying a New Car

Auto Loans

8 Things You Need to Know Before Buying a New Car

8 Things You Need to Know Before Buying a New Car

The good news is you’re in the market for a new car. The bad? You don’t even know where to begin. It always pays to comparison shop, and with so many sites dedicated to vehicle reviews, stats on reliability over time, information on the cost of vehicles over time, and even customer reviews of the… Read More

How I Sold My Car on My Own

Auto Loans

How I Sold My Car on My Own

How I Sold My Car on My Own

I’m not a car person. For many years, I dreamed about going carless, but it only recently became a practical option. It was so nice to think about a life without making car insurance payments, finding a parking spot, dealing with vehicle maintenance and all the other ways cars annoy me, so I was extremely… Read More

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