The Blog For Auto Financing News and Advice
Posted in auto loans, bad credit, car loans on Mar 29th, 2010
Consumers who have bad credit or have seen their credit scores nosedive during the recession due to foreclosure or any other kind of credit default may find it’s not that difficult to get a car loan anymore.
Lenders specializing in bad credit auto loans say that a two-year industry freeze seems to be over, the Orange [...]
Posted in auto loans, auto news, car loans, leasing on Mar 12th, 2010
The 661 GM dealers who recently learned they can be reinstated are still waiting on the details. GM hasn’t given them the exact requirements to keep or reopen their franchise. The 661 dealers received phone calls letting them know they were chosen for reinstatement. But, they will have to meet GM’s requirements and terms of [...]
Posted in auto loans, bad credit, car loans on Mar 11th, 2010
Car shoppers with bad credit will find if they need to buy a car, there are lenders out there who will approve them, but they will have to pay a high interest rate to borrow the money.
A year and a half after the credit crisis started, subprime lending is alive and well, TIME reports, especially [...]
Posted in auto loans, car loans, car shopping on Feb 26th, 2010
Comparison shopping for an auto loan in this economy is the best way to find out if securing your financing through the dealership will save you the most money. When consumers finance through the dealer, the dealer makes money on the financing. If buyers are approved through their bank or independent finance company, they can [...]
Posted in auto loans, auto news, car loans on Feb 19th, 2010
Bankrate.com lists the average auto loan rates for the week. New car loan rates increased, while used auto loan rates fell. (Bankrate.com)
Sears Auto Centers will now be available as a franchise. Sears says it designed the new franchise program to help dealers that have had to close a franchise to leverage their facilities by building [...]
Posted in auto loans, car loans on Feb 8th, 2010
We have a love-hate relationship with credit cards. According to the latest figures from the Federal Reserve, we are using our credit cards less.
December was the eleventh straight month that Americans borrowed less and focused on paying off credit card balances, the AP reports. Americans did spend money in December though. Borrowing for cars and [...]
Posted in auto loans, auto news, car loans, refinancing on Jan 29th, 2010
A woman and her husband want to know if they should sell a car that is upside-down with high monthly auto loan payments or sell their other vehicle, which is paid off. They also are looking into refinancing their car loan for the upside-down vehicle. Bankrate gives them advice. (Bankrate.com)
The Petersen Automotive Museum in Los [...]
Posted in auto loans, auto news, car loans, car shopping on Jan 27th, 2010
A consumer has his 2004 Honda Accord repossessed after he finds out the dealership that sold it to him never paid off the original car loan. So the original lien holder repossessed the car. Now this consumer is out the $4,000 he has paid into the Accord. He was also never late on any of [...]
Posted in auto loans, bad credit, car loans on Jan 22nd, 2010
A dealer in Davison, Mich. says three-fourths of the auto loan applications he receives are rejected. “We’d sell a lot more cars if financing were more easily attained,” said Chris Graff from Hank Graff Chevrolet in Davison. (ABC12/WJRT-TV/Mid-Michigan)
Wyatt-Johnson Auto Credit opened in Clarksville, Tenn. The company says its goal is to “provide reliable vehicles combined [...]
Posted in auto loans, bad credit, car loans, car shopping, leasing on Jan 19th, 2010
Getting an auto loan is a big financial responsibility. You’ve worked hard to get your credit score to a place where you’d qualify for the car loan or lease, and now you have to make sure you can make the payments, or end up damaging your score.
Ward’s Dealer Business has a few tips from Dara [...]