Everyone overspends from time to time, but when it comes to big purchases, like a home or vehicle, something that seems like an exciting splurge could end up devastating your finances. The question of, “How much is too much?” is quite personal. To say that you should only spend a certain percentage of your income… Read More
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People in Wyoming really like cars. Or trucks. Or whatever it is they’re getting when they take out auto loans. Because even though Wyoming is the least populated state (including the District of Columbia), its residents take out the most auto loans in the country, proportionate to its population. In the third quarter, consumers took… Read More
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The good news is youâre in the market for a new car. The bad? You donât even know where to begin. It always pays to comparison shop, and with so many sites dedicated to vehicle reviews, stats on reliability over time, information on the cost of vehicles over time, and even customer reviews of the… Read More
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Quick question: On a $20,000, 60-month auto loan, about how much more would a borrower with a low credit score pay than a borrower with a high score? Would you say… Under $1,000 $1,000-$3,000 $3,000-$5,000, or More than $5,000 The correct answer is more than $5,000. But in a new survey from the Consumer Federation of America… Read More
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The average monthly payment for a new car was $474 in the first quarter, the highest it’s ever been since Experian Automotive started publicly reporting the data in 2006. The average new auto loan term has also increased to a new high of 66 months. Longer loan terms lower the borrower’s monthly payments, but that… Read More
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Larryâs car lease payment is killing his budget. His monthly payment on the four-year lease for his Hyundai Santa Fe is $725.49. It’s too high, and he wants to know what his options are. An increasing number of consumers are choosing to lease their vehicles; leased vehicles accounted for 31.4% of all vehicles financed in… Read More
The post I Can’t Afford My Car Lease Anymore. What Do I Do? appeared first on Credit.com.
Every week it seems we hear from people who are driving a car they canât afford and are trying to find a way out. Itâs no surprise: the average car payment now has reached $483 for a new car and $361 for a used car, according to Experian Automotive. Unfortunately, these readers are also upside… Read More
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Used cars have always appealed to the budget-conscious shoppers because of their low prices, but there’s always been a drawback — used car loans. Until recently, bank loans for used cars were tricky to get, and were much more expensive than new car loans. But that’s changing. With car dealers successfully edging banks out of… Read More
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If you don’t use credit or just started building it, chances are you have no credit file or maybe just a thin one â it’s there, but there’s not much to it. That can leave you with a low credit score or no credit score at all, which may make it difficult to get credit when… Read More
The post Can I Get a Car Loan With No Credit? appeared first on Credit.com.
Hoverboards, power-lace Nikes and, now, DeLoreans. It’s like “Back to the Future” is taking over the present, and it’s practically a dream come true. (OK, so these hoverboards aren’t exactly as the film advertised, and the Chicago Cubs sadly did not win the World Series like they were supposed to, but that’s beside the point.)… Read More
The post You Can Soon Buy a DeLorean & Live Your ‘Back to the Future’ Dreams appeared first on Credit.com.