You Just Paid Off Your Car — Now What?

Personal Finance

You Just Paid Off Your Car — Now What?

You Just Paid Off Your Car — Now What?

Making the last payment on a car loan is a great accomplishment and, for most of us, a welcome relief. But with the end of that era comes another: life as the owner of a car – “free and clear.” Most people finance their vehicle for five years, said banker Deric Poldberg from American National... Read More

The Average New Car Loan Payment Is $499

Auto Loans

The Average New Car Loan Payment Is $499

The Average New Car Loan Payment Is $499

New car loans continue to set all kinds of records — average monthly payments are now essentially $500 — and a long-feared subprime lending bubble has yet to show signs of popping. But suddenly slumping auto sales raise plenty of questions about the overall health of the car sales market. The car loan market expansion... Read More

How the Color of Your Car Can Affect Its Resale Value

Auto Loans

How the Color of Your Car Can Affect Its Resale Value

How the Color of Your Car Can Affect Its Resale Value

It’s common knowledge that a car’s value begins to depreciate as soon as it leaves the sale lot. But did you know its color can affect its resale value as well? According to a new study by iSeeCars.com, an automotive data and research company based in Boston, color plays a huge role in determining a car’s retained... Read More

Does My Co-Signer Own My Car?

Auto Loans

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

Could Driving Less Get You a Lower Car Insurance Rate?

Auto Loans

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

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

Auto Loans

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

Why This Could Be a Great Year to Buy a Used Car

Auto Loans

Why This Could Be a Great Year to Buy a Used Car

Why This Could Be a Great Year to Buy a Used Car

America’s new love affair with auto leasing offers some unexpected good news to drivers looking for used car bargains. A coming glut of end-of-lease cars will dump millions of used cars on the market in the next year or two, almost certainly lowering prices on relatively low-mileage, late-model cars with most modern amenities. Leasing exploded... Read More

Is There Trouble Brewing in the Car Loan Market?

Auto Loans

Is There Trouble Brewing in the Car Loan Market?

Is There Trouble Brewing in the Car Loan Market?

The U.S. auto industry, which keep setting sales records, is a real bright spot in the otherwise murky U.S. economy. But there are increasing worries that it’s been supercharged by risky loans to consumers with poor credit. New data released this week shows that growth in sales, and the size of loans, show no signs... Read More

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