Archive | auto loans

Watch Out For Dealers Who Say The Price Of The Car Depends On Your Credit

Some dealers don’t like to play ball with this whole internet shopping thing. Even so, most know that if they refuse online price quotes they will lose sales, but some will send you numbers only to try to pull some tricks later—like altering the price due to your credit score.Read more… Continue Reading at http://jalopnik.com

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More People Are Now Prioritizing Their Phone Bill Over Their Car Payment

Phones are less expensive than a car, I get that, but here’s another bullet point to help illustrate the fact that more people are struggling to make their auto loan payments: Americans are prioritizing their phone bill over the car, reports Bloomberg.Read more… Continue Reading at http://jalopnik.com

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84-Month Auto Loans Are Becoming More Common Because You People Can’t Stop Buying Trucks

Americans have an insatiable, burning appetite for large trucks and SUVs right now, and so dealers are handling it by doling out auto loans with record terms. A record amount of loans have 72-month terms, but now more lenders are moving toward 84-months to keep the sales drive churning, reports Bloomberg.Read more… Continue Reading at […]

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This Free And Easy App Can Prevent You From Getting Ripped Off At A Car Dealership

There are all kinds of websites, platforms and startups that are supposed be “disrupting” the whole car buying process, yet every day people end up with bad deals. But the most powerful tool is something buyers have had for a while, and they don’t even have to download it.Read more… Continue Reading at http://jalopnik.com

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Watch Out For Dealers That Offer A Low Price With A High-Interest Rate

Buying a car shouldn’t be that complicated. You shop around, you get a quote, and make your purchase. Still, we all know it’s not simple because some dealers will use various deceptive and tiresome tactics to make it seem like their quote is the best when it may not be—including pairing a crazy low price […]

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Never Ever Agree To Let Someone Make Payments When They Buy Your Car

Right away most of you have read the headline and thought, “Of course not, McParland! How obvious do you need to get?” I too thought this was common sense—until I got an alarming amount of emails from readers that have put themselves in a tough spot because they agreed to finance their buyers.Read more… Continue […]

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Just Because You’re Bad At Math Doesn’t Necessarily Mean The Dealer Is Ripping You Off

The mathematical skills of the American population are, for the most part, pretty poor. Dealerships and lenders will often use this as an opportunity to take advantage of people, but sometimes the opposite happens when someone with bad math skills walks away from a good deal because they don’t understand how the…Read more… Continue Reading […]

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Car Dealers Are Using Electronic Loan Contracts To Scam Buyers Into Horrible Situations

One day last December, Tanisha Coley visited a Kia dealership in Stamford, Connecticut and filled out a computer-based credit application to figure out what kind of car she could afford. Soon after, she left without buying a vehicle, but ended up more than $17,000 in debt anyway.Read more… Continue Reading at http://jalopnik.com

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Trump Pick To Run Federal Watchdog Is Connected To Bank Reportedly Facing Auto Loan Lawsuit From Watchdog

There’s a confusing, bureaucratic mess playing out right now at the Consumer Financial Protection Bureau, an independent federal watchdog that oversees financial institutions. And it could scuttle a possible lawsuit the agency was preparing against a bank notorious for issuing subprime auto loans.Read more… Continue Reading at http://jalopnik.com

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You Can Get A Really Good Deal On Used Car Loans Right Now

There is a battle happening on dealer showrooms right now. Right now, heavily discounted new cars are facing off against an excessive inventory of pre-owned models. The winner of this fight could be you, if you play your cards right. In order to help move used cars, automakers and banks are offering incredibly cheap…Read more… […]

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There Is No Magic Solution To Your Underwater Car Loan

It’s unfortunate that some people get buried in debt. I frequently get emails from folks underwater on their car loans and most are hoping for some solution that defies the laws of mathematics. Here’s the real answer: there is no real answer.Read more… Continue Reading at http://lifehacker.com

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How Subprime Car Loans Are Ruining Lives And Repeating The Mistakes Of The Housing Crisis

Things felt like they were finally turning around for Aaron Woodrum in March 2015 after several months of unemployment. The 38-year-old had fallen behind on bills, causing his credit score to slip. But, thankfully, he’d secured a new job, bolstering his prospects. He just needed a car.Read more… Continue Reading at http://lifehacker.com

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