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

Some White Borrowers May Get Refunds in a Racial Discrimination Settlement. Here’s Why.

Auto Loans

Some White Borrowers May Get Refunds in a Racial Discrimination Settlement. Here’s Why.

Some White Borrowers May Get Refunds in a Racial Discrimination Settlement. Here’s Why.

Even under normal circumstances, racial discrimination can be hard to spot. Identifying discrimination in car purchases and loans is particularly challenging, however – auto dealers don’t have to log the ethnicity of borrowers, and car loan terms are often bargained as part of a complex transaction.  Still, the Consumer Financial Protection Bureau promised to be... Read More

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