The Blog For Auto Financing News and Advice
Posted in auto loans, car loans, car shopping on Oct 30th, 2009
Woman who was helping a customer obtain a car loan at her dealership is murdered and believed to be a victim of stalking. The suspect was taken into custody and confessed to murdering the young woman. (MyFoxOrlando.com)
Credit card companies are doubling and tripling interest rates, increasing minimum payments, adding annual fees if you don’t charge [...]
Posted in auto loans, car loans, car shopping on Oct 29th, 2009
GM will announce later this week that it will use some of its government money to buy a portion of parts supplier Delphi Corp. (Vindy.com)
AutoNation becomes profitable again. (South Florida Business Journal)
New 2010 Ford Taurus SHO to be featured on the Tonight Show with Conan O’Brien tonight. (Autoblog)
Toyota will reportedly expand its Scion brand into [...]
Posted in auto loans, car loans, car shopping, leasing on Oct 28th, 2009
GMAC wants more Treasury money, but the Atlantic magazine thinks the government should let it fail. (The Atlantic)
Fisker Automotive wants to reopen an old GM plant in Delaware to build its electric-hybrid vehicles. (Philly.com)
Ford employees (also UAW members) in Louisville, Ky. vote on a new contract with Ford with certain concessions. Results are expected Friday [...]
Posted in car shopping on Oct 27th, 2009
Consumer Reports announces its reliability results. Ford was found to be reliable, but GM and Chrysler didn’t fare too well. (The Truth About Cars)
Fiat is going to kill at least nine Chrysler, Dodge and Jeep models and bring some of its own into the new lineup. (Kicking Tires/Cars.com)
J.D. Power is predicting October auto sales will [...]
Posted in auto loans, car loans, refinancing on Oct 26th, 2009
There are several different situations when refinancing an auto loan is beneficial, says Dale Peterson, president of MyAutoLoan.com, a licensed auto loan refinancing lender. You should refinance if you had a poor credit score when you bought your car and signed a loan with a high interest rate, if you reviewed your home budget and [...]
Posted in car shopping on Oct 23rd, 2009
The less information you give the dealer salesperson or finance manager, the more money you’ll save. Any information you give them helps them figure out how much to sell the car for and what interest rate they’ll finance you for. This helps them figure out how much profit they can earn from your deal.
Don’t Tell [...]
Posted in auto loans, bad credit, car loans, car shopping, leasing on Oct 22nd, 2009
When to Shop for a New Car
When a car isn’t selling, manufacturers will offer incentives so they can clear out certain models. The incentives are usually in the form of a price reduction, rebates, cash back or a low interest rate. For the best deals, shop at the end of the month when dealers need to meet [...]
Posted in auto loans, car loans on Oct 21st, 2009
Did you know that the FICO score isn’t the only credit score available? Because it has been around for so long, its name is almost synonymous with the words “credit score”. Credit score, FICO score – same thing, right?
Not at all. The FICO score is a scoring model from Fair Issac. FICO’s competitor, VantageScore, is [...]
Posted in auto loans, bad credit, car loans, car shopping on Oct 20th, 2009
In the midst of the recession, so many people have damaged their credit. So let’s say that someone needs a car to get to work, or their current car recently died or was totaled in an accident.
If they know their credit isn’t up to par, or it just plain stinks, what are they supposed to [...]
Posted in auto loans, car loans, leasing on Oct 19th, 2009
When it comes to cars, we Americans love to brag. Not so much about our cars as what a deal we got when we bought them. $500 over invoice for that hot new coupe in cherry red or $500 under invoice for that pickup on clearance.
Yah, we are pretty savvy when it comes to handling [...]