Category Archives: Loans & Finance

Any individual that has experienced the bankruptcy process can attest to the fact that the difficulty does not stop when the case has been discharged. In fact, many consumers quickly realize that their credit will be negatively impacted for seven to ten years and it is quite necessary for them to learn how to effectively deal with their situation. Tasks that might have been relatively easy in the past are suddenly somewhat more difficult and require additional work. Contrary to popular belief, it is actually possible to obtain a car loan after bankruptcy if a consumer understands what to expect and what will make the process easier.

Many individuals feel that after a bankruptcy that the best way to purchase a vehicle is… Continue Reading…

An ever increasing number of consumers have been plagued with poor credit scores and are realizing that it can prove to be incredibly difficult to accomplish tasks that may have been easy before, such as purchasing a vehicle. While some people with bad credit have earned it through irresponsible behavior, a recent study conducted by one of the major credit bureaus revealed that the most common causes of negative ratings are actually uncontrollable. An couple examples include unmanageable medical bills and job loss. Individuals need to understand that buying a car with bad credit is completely possible and the good news is that contrary to popular belief many lenders will not treat their prospective borrowers as inferior.

Most consumers that are buying a car with bad credit rating believe that it is necessary to visit a dealer that offers on the lot financing… Continue Reading…

There are hundreds of vehicles on the market and more are being developed each day. Cars can be incredibly expensive, but many are very cost effective. For under $20,000 there are plenty of cars available. The cheapest cars out there, however, are under $12,000 brand new. Most of cheaper vehicles available are base-model cars. Therefore, they lack many common accessories and features of their more expensive versions, which can be a problem for some.

Cheap Cars Under $13,000

For just under $13,000 the Chevrolet Aveo and Smart Fortwo Pure. Both cars lack basic features like air conditioning and power windows. While the Aveo lacks safety equipment, the Fortwo Pure is stocked with all kinds of safety technology. They both have great fuel economy and will get a person where they need to go, but the lack of so many features that are standard on most cars can be… Continue Reading…

With personal budgets being squeezed these days, many people are re-evaluating what they truly need and what they can live without. A vehicle can become a major financial burden. Sometimes selling a van can be the best choice. To know for certain, you need to determine how much money you can actually make if you sell it.

A great place to start when estimating the worth of your van is the used van value calculator on the Kelley Blue Book: Vans. Often actual van sale prices will be somewhat lower than what is listed, though. If you can find sales of your make and model of vehicle on ebay.com or craigslist.org you will come to an even better estimate. Remember that craigslist.org will show only the asking price. The van may not have sold or the actual sale price may have been lower… Continue Reading…

If you are one of the many people who made a few mistakes with your credit, you are undoubtedly already aware of just how costly those mistakes were for you. However, it does not need to damage your credit forever. Even if you have had to finance your car with a loan that has a high percentage rate, it is always possible to get a bad credit auto loan refinance. There are several reasons to do so, and some important advantages to this type of refinancing.

Why Seek A car refinance for bad credit?

The primary reason that most people choose to seek a bad credit car refinance is to save money. Most borrowers who have sub-par credit, which is usually any credit score under 600, will end up paying very high finance rates with their original auto loan. With these bad credit car finance… Continue Reading…

Few consumers have the ability in today’s economy to simply pay cash for a vehicle, so it is going to sooner or later become necessary to borrow money by taking out a car loan. Prospective borrowers are constantly trying to determine what should classify as a good interest rate, but the simple fact of the matter is that it depends on a variety of different factors and certainly is not the same for every consumer. By understanding what factors will play a role in the interest rate calculation, an individual can make a better decision when it comes to accepting or declining a possible loan due to the interest rate.

Specific Vehicle Characteristics

The majority of vehicle shoppers fail to realize that their selection is going to play a significant role in determining the interest rate that they will be able to qualify for. Lenders will often offer better interest… Continue Reading…

Most consumers do not have thousands of dollars sitting in their bank account to purchase a new or used car. They have to rely on a lease or car loan. A used car loan is often necessary to purchase a used car. Few dealerships are willing to lease a car that already has been leased and the cost does not make it worth it. Consumers can find a car loan from a wide range of sources. Whether a car loan is started at a bank, dealership or finance company, the interest rate is one of the most common discussion pieces.

The average interest rate for a car loan according to Bank Rate is currently around 6.5%. It varies within half a point for three or four year used/new car loans. This is simply the average interest rate. Many consumers who have good… Continue Reading…

Getting the best price on a new car is not a random act, but rather the combination of several different acts. The entire process of getting a good deal starts with gathering real-world information, knowing when sales happen, cleaning up credit issues, saving, and being aware of the various features and models available. It also helps to be flexible when it comes to vehicles, as there are many vehicles that will meet almost any need. Focusing on only one vehicle is a poor decision from a financial standpoint in most cases, so focus on needs and wants rather than brands whenever possible.

It pays to know what different model vehicles are on the market, and which each model sells for so long as each model meets a specific set of needs. This means that a needs and wants assessment needs to be done before comparing models. It… Continue Reading…

Purchasing a new or used vehicle is a long and confusing process. A buyer must decide what vehicle they wish to purchase, whether they will be trading in their current vehicle and how they will be financing their purchase.

While a car can be financed through a dealership, many dealership financing companies do not offer the best deals to their customers. For example, a buyer may be offered 0% for 18 months but very few buyers are able to pay off their vehicle within that short period of time. The rate may then increase to 8% or even higher depending on how the contract is written.

Many banks and other lenders have low interest rates from the beginning. While they may not offer 0% car loans, there are many banks which offer rates as low as 3.99% or even lower! One of the important facts to remember about a car… Continue Reading…

When you visit a car dealership, you will often see a piece of paper in the window or on the windshield of a vehicle listing the asking price, or retail value, along with a breakdown of the components of the figure. This can be confusing, especially if the dealer begins to negotiate the price, offering to give you discounts on the listed value. How do you know what the car is really worth and if you are getting a good deal?

The automobile industry has built in many safeguards to ensure profit while still selling vehicles at competitive prices. Charging for everything from floor mats to rust treatments is one way a dealer adds to the sales price of a vehicle, and inflating trade-in values along with asking price is another. Knowing what the dealer paid for the car is one way you can avoid getting caught up in a… Continue Reading…

Maybe you are like many individuals who have considered selling one of their cars. The only thing stopping you might be your fear of how little the car might be worth versus how much you owe on its loan. This article goes through the best ways of determining the value of your car.

Car Value Guides

There are two nationally recognized and extremely popular pricing guides for quickly determining the value of your current car. These are the Kelley Blue Book and the NADA value guide. Both of these companies offer free online reports and quotes for anyone who logs on. Their two websites are KBB and NADA, respectively.

Kelly Blue Book Value

You should not consider putting up a car for sale until after you know the value of it. Kelley Blue Book is widely used by banks and… Continue Reading…

Sales tax rates fall under the control of the state. Consequently, sales tax rates vary from state to state. Sales tax is usually paid to the seller at the time of a sale. If you purchase a car from a dealer, the sales tax is included in the total owed to the dealership, and they in turn take care of paying the state. When purchasing a car from a private party, however, sales tax is not paid to the seller but is instead collected by the state’s Department of Motor Vehicles when the car is registered.

Some states give car buyers a bit of a sales tax break by charging sales tax only on the difference between the purchase price of your new vehicle and the trade-in value of your old vehicle. For example, let’s say you trade in your old car for $10,000 and put that money toward the… Continue Reading…

What prevents most people from buying the car of their dreams is the perceived notion that getting a car loan is an arduous and lengthy process. While obtaining a car loan can take some time and preparation, it can be a process that can be easily undertaken by just about anybody. In this step-by-step guide we are going to break down just how easy it is to get a car loan.

Step One: Choose Your Vehicle

The first thing that you need to do before you look for a car loan is to choose a vehicle and negotiate a price with the seller. Haggle with the seller to get the best deal and find out how much the car is going to cost with the licensing fees included. While most dealerships offer financing for their customers, it is usually overpriced and isn’t the best deal. If… Continue Reading…

Transferring a car title will cost you some time and a little money. While the process of transferring a vehicle title is similar from state to state, there are differences. If you purchase a vehicle from a dealer, the dealership typically handles all of the required paperwork for you. If you purchase a vehicle from a private party, however, you will have to take care of this yourself. Be sure that both you and the seller fill in the necessary information on the back of the title. If possible, you may even want the seller to accompany you when you transfer the title and register your vehicle.

Where To Go and What To Bring

The agency that handles vehicle registrations and titles in most states is called the Department of Motor Vehicles (DMV). In many cases you can now download at least some of the required paperwork and complete it… Continue Reading…

When it comes time to purchase that new car, we often need to sell the last one. In some cases, we can just trade it in to the dealer during the purchase of the new car, but that generally does not allow us to achieve maximum return on the sale. In order to do that, it is going to require some effort, such as selling the car ourselves. That introduces its own set of problems, and it leaves us asking some difficult-to-answer questions, such as how much do I sell the car for.

The first major point of consideration is repair. Is it worth it to repair the car, or do I sell it as is? As a general rule of thumb, if the malfunction or damage prevents a driver from driving it properly, then the cost of repair will pay for itself in the amount for… Continue Reading…