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
The following is a guest post from Dr. David L Tuyo II, president and CEO of University Credit Union. While there is rampant fear and caution against a global economic downturn due to COVID-19, this does not mean that every individual will be hit as hard as the next. Certainly, there has been and will... Read More
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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
Getting a new car is a big decision, and you should choose your next vehicle carefully. But if you think finding the right car is difficult, deciding whether to lease or buy can be even more overwhelming. Start the process right by understanding the minimum credit score to lease a car and determining whether this... Read More
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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
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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
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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