Prices for used cars are at a four-year low, and poised to drop even lower, car experts say. The reason: Americans are finally buying new cars, and their trade-ins are adding supply to what had been a tight market. The average price of a used car dropped 2.8% in the third quarter to $15,678 from… Read More
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For consumers looking to save money by buying a used car, location matters. Miami may be a bargain-hunterâs best bet, and New York City has some good deals, too, according to a new analysis of used-vehicle listings from iSeeCars. Of the 10 most popular used cars, as determined by vehicle search engine site iSeeCars, five… Read More
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How much you’ll pay for car insurance can depend on a variety of factors, including your age, driving record, credit score and how you use your car. Location also matters. According to a 2013 report, the national average for car insurance is $1,510 a year. The data is based on insurance rates of more than… Read More
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Young Americans have eased up on buying new cars since the end of 2012, according to a report from auto sales information site Edmunds.com. Through August this year, consumers ages 18 through 34 have made up 11.4% of new vehicle purchases, down from 12.6% in 2012. In 2011, that age group bought 10.8% of new… Read More
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If investing 15 minutes would save you $50 a month for the next three years, would you do it? That seems like a no-brainer, but you’d be surprised how many people are passing up a similar deal. That would be a total savings of $1,800 or, put another way, that 15 minutes would be an opportunity… Read More
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Jennifer’s husband walked out to the parking lot at 1 a.m. three months ago after another long night running the casino floor at a restaurant near Phoenix. He had no way to get home. The couple’s 2006 Ford Focus was gone. Not stolen, but repossessed. Jennifer says they were two payments and one day late…. Read More
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Dozens of options exist for consumers looking to borrow money, but some loans are much harder to access than others. The best and least expensive ways of borrowing money generally require the borrower to have a good credit history, and many people aren’t in that situation. That’s where things like payday loans and auto title… Read More
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Auto loans are hot. Consumers can’t seem to get enough of them, and the average loan has soared from $14,700 to $17,400 in the past five years, according to TransUnion. Wall Street can’t get enough of them either: Santander Consumer USA just sold off $700 million of its subprime loans to investors within a few… Read More
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Conventional wisdom says that a good down payment for a car is about 20% of its total price. That’s because cars typically lose about 21% of their original value the first year. The logic was that if something happened to the car, it wouldn’t necessarily total your finances as well. If, for example, you had a… Read More
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As the U.S. economy recovers from the recession, many lenders have eased financing standards, resulting in an increase in loans available to consumers with poor credit. The earliest and strongest recovery came in the auto market, and while a bump in subprime used-car lending has triggered some murmuring of a bubble, it appears to be… Read More
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