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Car loans allow you to borrow a lump sum of money to buy a vehicle now, then repay the loan over time. Because a car is likely to be among one of the biggest purchases you make, knowing how to secure financing is key. While you can speed up the process by having the dealer […]
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If you’re in the market for a car in 2024, you’ll have plenty to choose from at a dealership near you—something that couldn’t be taken for granted just a few years ago. Nonetheless, while supply of both new and used vehicles on U.S. dealer lots have returned to historically normal levels, the price of driving
More Drivers Than Ever Are Making $1,000+ Auto Loan Payments Read More »
It’s generally best to work on improving your credit before applying for a car loan if you’re thinking about buying a car and have bad credit. If time isn’t on your side, however, it’s important to take steps to evaluate your situation and budget and make yourself as attractive a borrower as possible. Steps to
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Buying a car can be both exhausting and exhilarating. But once the excitement fades, what are your options if you change your mind about your new vehicle? You generally can’t return a car you just bought, but there may be some exceptions if the car is a lemon, the dealership has a return policy or
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Buying a car is one of the biggest and most important purchases of your life. Therefore, it’s important to carefully weigh the various aspects of the purchase, including how much of a down payment you should make if you’re taking out an auto loan. The size of your down payment can affect your loan in
How Much of a Down Payment Should You Make on a Car? Read More »
Salvage title vehicles are often sold at a fraction of their former value, so if you come across a deal that seems too good to be true, the car could have a salvage title. Not all salvage title vehicles are lemons, but there are some significant risks to consider before you buy one. In particular,
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There’s nothing quite like the thrill of buying a car, especially if it’s brand new. Over the past few years, however, carmakers have faced the pandemic and several other major challenges that threw the industry for a loop. While some of those issues have improved, car buyers aren’t out of the woods quite yet. Let’s
Should You Buy a Car in 2024? Read More »
When you have poor credit or a limited credit history, getting an auto loan can be challenging. Even if you’re able to qualify for a loan, you may be charged a high interest rate. Applying for a car loan with a cosigner who has good credit could make it easier to get approved and help
Should You Get a Cosigner on a Car Loan? Read More »
If you’re facing a financial emergency and can’t cover this month’s car payment, a deferment on the loan could buy you some breathing room. It’ll come at a cost, but it may be worth it to avoid the possibility of repossession. Can You Defer a Car Payment? Loan deferment is a temporary suspension or reduction
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A loan modification is a permanent change in the terms of an installment loan—most commonly a home mortgage, auto loan, student loan or personal loan. Loan modification is intended to make payments more affordable for borrowers facing financial hardship. How Loan Modification Works Lenders are not obligated to provide loan modifications but may do so
What Is a Loan Modification? Read More »
Buying a car delivers plenty of thrills, but can it also help improve your credit? Auto loans can positively or negatively affect your credit, depending on whether you make your payments on time and repay the loan in full as agreed. Experian’s State of the Automotive Finance Market for the second quarter of 2023 reports
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When you’re shopping for a car loan, you’ll want to figure out how much car you can afford, how much money you can put toward a down payment and the monthly payment amount you’re willing to pay. You also shouldn’t overlook the role that your credit card debt can play. Lenders consider your existing debt
Does Credit Card Debt Affect a Car Loan? Read More »
There are several reasons to consider refinancing your car loan, but once you’ve done it, you may wonder whether you can do it again. You can refinance a car loan as many times as you want—there’s no set limit. That said, refinancing your car loan multiple times can have some negative consequences for your wallet
How Many Times Can You Refinance a Car Loan? Read More »
If you leased your car in or around 2020, there may be light at the end of your car lease. Strong used-car values can create positive equity, leaving lessees with a bit of leverage as they contemplate their next move. Although car appraisal firm Edmunds says used car values are softening in 2023, prices remain
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Millions of Americans buy cars every year, and many of those buyers take out auto loans to pay for these purchases. Not every would-be car buyer can easily qualify for a car loan, however. Perhaps their credit score is too low or their amount of debt is too high. But don’t despair if you’re having
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When it comes to making financial decisions, there’s no substitute for crunching the numbers. Loan calculators can help you better weigh your borrowing options and choose the best repayment strategy for your budget. Here are four loan calculators from Experian that can help you understand loan costs and manage your debt. You’ll also find additional
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For better or for worse, debt is a common part of life. Borrowing can make it possible to buy a home or car, attend school and finance other large purchases. And while debt can be useful for achieving all types of financial goals, it can also become a large burden if you take on debt
What Are the Different Types of Debt? Read More »
Car title loans are one option to get cash quickly if you find yourself in a tough spot. They do, however, come with a set of rigid terms and conditions that make it an option that should usually be considered after other alternatives. What Is a Car Title Loan? Car title loans are short-term loans
Is a Car Title Loan a Good Idea? Read More »
There’s no set minimum credit score required to get an auto loan. It’s possible to get approved for an auto loan with just about any credit score, but the better your credit history, the bigger your chances of getting approved with favorable terms. Here’s what you need to know about how your credit score affects
What Credit Score Do I Need for an Auto Loan? Read More »
You’ve been eyeing a shiny new car, yet you still owe money on your current vehicle. So, can you sell your car if you’re still making payments on it? Yes, you can sell your car if you still owe money on it, but you’ll need to pay off the debt before you can transfer the
Can I Sell My Car if I Haven’t Paid It Off? Read More »