What Does Upside Down Mean, and How Can You Get Right Side Up?

Many of us, when buying a car, fail to appreciate that we’re buying an asset that will lose value over time. Or perhaps we do our homework, but shifting tastes in the market and the needs of the used car industry drives down what your car is worth without your noticing. Either way, it’s called an “upside-down” loan, and it’s a tough spot to be in. What Is An Upside-Down Auto Loan? When a loan is upside-down, that means you owe more on it than the...

5 Reasons Auto Loans with Bad Credit are More Than Possible

Bad credit? You can still get a new car!If you don’t have great credit, you can have a tough time securing many financial products. One of the products you won’t have a problem getting, though, is an auto loan for bad credit. Here are just five reasons an auto loan with bad credit is not just possible, but even fairly common. You’re Not Alone It can feel like you’re alone in having bad credit, but believe it or not, your neighbor down the street, your...

What Is a Good Credit Score to Buy a Car?

You’ve likely heard the doom-and-gloom talk about how lenders have put loans on a much tighter leash in our post-recession economy. And it’s true; lenders are no longer giving out a loan to any old person with a government-issued ID and a smile.So what does this mean for you if you are in the car-buying market? How will you know if you are likely to receive financing or not?Let’s take a look at what will likely determine whether or not you can source a...

How to Use an Auto Loan Calculator

One of the most important steps with any auto loan is to work out just how much it’s going to cost you. But if you’re not good at math, or you simply find yourself confused by all the ins and outs of a car loan, an auto loan calculator can help you put together both how much it will cost you in the short term, and just how much you’ll pay overall for your car. Here’s how to use them, and get the most out of them. Get The Information You Need First,...

5 Ways to Get the Best Auto Loan Interest Rate

Your interest rate is an important part of your auto loan. Essentially, it’s the “price” for “buying” an auto loan; the total amount of interest you pay over the life of the loan is often what makes said loans worth issuing, for many lenders. So, to bargain down your auto loan interest rate, try these tips to get results. Don’t Get A Loan Through The Dealership When you’re looking to buy something, you don’t go to a store that sells just one kind of that...

Five Reasons You Can Still Get an Auto Loan with Bad Credit

When you’ve got bad credit, it can feel like all your options are taken away from you. But it doesn’t have to, especially if you need a car. An auto loan with bad credit is not only possible, but commonplace. But, why? The Credit Market Has Changed Much of the conventional wisdom surrounding bad credit auto loans was formed well before the modern credit market. Much has changed even in just a few years with how loans are funded, distributed, secured, and...

Does My Driving History Affect My Ability to Get an Auto Loan ?

At some point in our time on the road, we’re going to get into an accident. It’s just going to happen. Fender-benders, parking tickets, accidents, speeding, millions of Americans get dinged in parking lots and pulled over by the highway patrol every day. Most of us write it off as a modern inconvenience … but can it affect your ability to get an auto loan? It’s quite possible. To understand why, we need to look at why your lender will look at your...

What To Do If You Fall Behind on Car Loan Payments ?

It was exactly that which recently helped us realize that a lot of you have a particular topic of concern on your minds: car loans. Notably, a lot of you are wondering what to do when you’re struggling to make your car loan payments. On a personal note, I have to admit, when I was assigned this post, I got a little nervous. It’s been years since I owned a car and, when I did, I didn’t even realize there were any options to help if you couldn’t make your...

5 Times to Consider a No-Money-Down Auto Loan

Consumers are often wary of “no money down” offers. Like many advertising terms, it can sometimes be more hype than substance, and there can be drawbacks. But there are times where it’s worth taking someone up on the offer, like these five situations. You Can’t Get Together A Down Payment Simply put, the appeal of “no money down” is that you don’t need to have a down payment in your bank account waiting to be signed over. Certainly it’s better if you...

Five Ways to Avoid Bad Car Loans

Don’t sign for a bad car loan. Many of us need cars, and as a result, the auto loan sector is growing surprisingly quickly. We’re taking out more car loans and borrowing more when we finance a car. And it’s inevitable that as more car loans are being written, some bad ones are being pushed on consumers. So how to avoid them in the first place? Ask Around The best place to start is with the people you know and trust, your friends and family. Ask them who...