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Tips and Tricks for Managing a Car Loan

Financing a new car might seem daunting at first, considering the added monthly expense, but it's not as bad as it seems. Here are some tips for managing your new auto loan successfully.

Experian Reports a Record High for Monthly Auto Loan Payments

Financing a new car is one thing, but being able to afford it throughout the entire length of the loan is another. What that means is that your monthly payment is important and what’s even more important is that you can comfortably afford it. According to new data from Experian, many Americans are currently paying …

Where Can I Find the Lowest Auto Loan Interest Rate?

Buying a car requires a good amount of homework in order to get the best deal. Not only do you need to do your research when it comes to finding the right car, but you should also do your research when it comes to paying for it. Are you paying cash, leasing, or financing? If …

Do You Need Money to Buy A Car?

You need money for just about everything nowadays. You need money to buy food, gas, and pretty much everything else that you need in your daily life. But do you really need money to buy a car? Unfortunately, cars are not free As much we would all love to walk into a dealership and demand …
An areal image of a car parking lot.

Americans Owe Almost $1,200 Billion in Outstanding Auto Loans

While the global economy begins to recover slightly from the impact of the ongoing Covid-19 pandemic, the world of auto loans is in trouble. Most buyers opt for a car loan when purchasing a vehicle rather than paying it in full. As a result, when the economy struggles, late payments become more common. According to …
A line of cars at a used car dealership

Is Rolling ‘Negative Equity’ into a Loan a Good Idea?

Cars will depreciate in value no matter what. If you drive a new car off the lot, it can lose up to 20 percent of its value within the first year of ownership and a lot more over time. If a car ends up being worth less than what you owe on it, then that …

What Does ‘Loan-to-Value’ Mean and Why Is it Important?

When you apply for a car loan, there’s a lot more to that lenders take into account that just your credit score and history. They will look as factors like your annual income, your outgoing debt, the value of the vehicle that you’re buying, and the loan amount that you’re looking to borrow. When considering …