The Blog For Auto Financing News and Advice
Posted in auto loans, bad credit, car loans, leasing, refinancing on Dec 16th, 2009
Auto Loan Credit Report
There is an auto loan specific credit report that looks at different factors than a normal credit report. This report is only available to car dealers and lending agencies giving auto loans. Because of this, you could get a credit report on your own then go to a dealership and find out [...]
Posted in auto loans, bad credit, car loans, leasing on Dec 14th, 2009
President Obama compares auto lending practices to mortgage and payday lending’s dishonest and misleading practices in his speech this morning to bank CEOs. (AutoFinanceNews.net)
Auto industry seeks a lifeline in D.C. as Michigan struggles for hope – Chapter 2 of an eight-part series looking back over the struggles and challenges the Michigan auto industry has [...]
Posted in auto loans, bad credit, car loans on Dec 10th, 2009
Wisconsin ranks second in the nation in its average credit score for new car loans, with 796, and ranked first in the nation in average credit score for used vehicle loans, with 733. (BizTimes.com/Milwaukee, Wis.)
Tesla Motors is withdrawing the Model S from the Progressive Automotive X-Prize competition, saying it wants to focus attention on getting [...]
Posted in auto loans, bad credit, car loans on Dec 7th, 2009
We talked to Paul Gillespie, senior vice president of dealer services at AmeriCredit, to find out how consumers with bad credit can get a car loan. AmeriCredit is an automobile finance company based in Fort Worth, Texas that deals primarily with subprime borrowers.
Q: What credit scores do you work with for auto loans?
A: We target [...]
Posted in auto loans, bad credit, car loans on Dec 3rd, 2009
Build a Relationship With a Lender and You’ll Get Better Car Loan Interest Rates
Lenders are more likely to give a car loan to a buyer who they have a relationship with. If you’ve had a car loan in the past and made your payments on time, that lender knows that you’re a responsible car buyer and [...]
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, 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 [...]