Buying a car is almost a rite of passage. Making that first car purchase, negotiating with the seller, and arranging financing (if you need an auto loan) all require a certain amount of savvy. And, once you successfully achieve the car-buying milestone, another signpost looms in the distance: Refinancing. Whether youâre getting an auto loan... Read More
The post A Millennial’s Guide to Getting Your First Car Loan appeared first on Credit.com.
When youâre looking for a new car, it can be difficult to decide whether buying one outright or leasing one for a period of time makes more sense. Itâs true that cars only go down in value the longer you own them, but there are still some solid arguments for owning one outright rather than... Read More
The post 4 Questions to Ask Yourself Before Leasing or Buying a Car appeared first on Credit.com.
According to the Consumer Financial Protection Bureau, around 2.3 million car loans originate every year. Car loans can take years to pay off. So when you finally pay it off, you might be wonderingânow what? What happens when you pay off your car? What should you do with the money you were previously putting towards... Read More
Weâve had many readers write in after a divorce and ask how to split their assets with an ex-spouse. One of the most common questions is how to remove an ex or another cosigner from a car loan and title. Hereâs how to go about it. Whatâs the Role of a Cosigner? It can be... Read More
Behind every diploma bestowed at high school and college graduations is a lot of hard work. And for some lucky grads, that hard work gets rewarded with a milestone gift: their own car. If you’re planning to buy a car for the new grad in your life, we’ve got some advice on making the right... Read More
The post 7 Things to Know About Giving (or Getting) a Car for Graduation appeared first on Credit.com.
Shopping for a car is overwhelming. Not only must we choose between new or used, decide on a make and model, and sort through safety features and trim packages, but then we need to decide how to pay for it. If youâve got the cash to pay for your car in full up front, it... Read More
Would you like to spend less money up-front, drive away from the dealership in a brand-new car, and spend less time and money on vehicle maintenance? Consider leasing your next car. What Does Leasing a Car Mean? Leasing a car is a lot like renting oneâbut for a much longer period of time. When you... Read More
The post Leasing a Car: 7 Reasons Why You Should Consider It appeared first on Credit.com.
According to experts at the automotive website Edmunds, a new car loses up to $7,419 of its value during the first year on the road. Over the next three years, new cars lose an average of $5,976 in value, mostly due to age and wear and tear. This shows just how quickly a fancy new... Read More
The post How to Deal with an Underwater Car Loan When You Can’t Sell appeared first on Credit.com.
One of the most common questions I am asked as a financial planner is âshould I lease or buy my car?â Leasing commercials on the radio make it sound like leasing a car is the only cheap, intelligent choice. However, it really depends on how you define âcheap.â If it means a lower monthly payment,... Read More
Yes, lenders have auto loans for people with no credit, but getting one is not guaranteed. It will depend on the lenderâs flexibility, the down payment you can afford, and the kind of car you want to buy. It may even depend on how you ask. Phil Reed, senior consumer advice editor for the consumer... Read More