Back in June, I hit my biggest credit milestone in quite some time: I paid off my 2011 Mazda 3. And, while I’ve been celebrating in my head ever since â one less monthly bill to worry about! â there were a few speed bumps (har, har, har) along the way. There also were a lot of… Read More
The post 9 Things I Learned From Paying Off My Car Loan appeared first on Credit.com.
The estimated average new car price in America was $34,264 in July 2016, and has steadily risen, according to Kelley Blue Book. Because the typical car down payment advice is to put down 10% to 20% of the loan amount ($3,426.40 to $6,853.80 for the average new car price above), you might be wondering how much money… Read More
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[UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned below.] If youâre planning a car purchase, and even if youâre in the middle of financing your car, a… Read More
The post A Quick Guide to How Much Car You Can Really Afford appeared first on Credit.com.
Auto sales keep setting records, with 2015 seeing the highest number of trucks and cars ever sold (more than 17 million). This is partly because borrowing money to buy cars keeps getting easier. Longer terms, lower credit score requirements, and persistently low interest rates keep enticing Americans to buy new wheels. Most of those cars… Read More
The post Is Refinancing Your Car Loan Worth It? appeared first on Credit.com.
Rental cars often get a bad rap. Since drivers are only borrowing the vehicle for a short period of time, conventional wisdom goes that they wonât treat the car very well. So most would think that purchasing a questionably treated rental car is a poor financial decision. While a privately owned used car might have… Read More
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In most parts of the country, having a car isn’t optional. Without your own vehicle, it can be extremely difficult to get to work or provide for your family, but at the same time, car ownership can be a challenge. If you find yourself having trouble making your car payments, you could end up losing your… Read More
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A negative equity car loan â also referred to as being âupside downâ or âunderwaterâ on a loan â means you owe more on a vehicle than itâs worth, and itâs 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
The post What to Do When You Owe More on Your Car Than It’s Worth appeared first on Credit.com.
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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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
The post Why This Could Be a Great Year to Buy a Used Car appeared first on Credit.com.
Even under normal circumstances, racial discrimination can be hard to spot. Identifying discrimination in car purchases and loans is particularly challenging, however â 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
The post Some White Borrowers May Get Refunds in a Racial Discrimination Settlement. Here’s Why. appeared first on Credit.com.