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What is a lien on a car?
  How to know lien from loan, and what to keep in mind when buying and selling a vehicle If you’ve been approved for a car loan you’re likely to encounter the term “lien,” but the chances you’ll know what it means may not be quite so great. A lien on a car is like a safeguard for the lender or other interested party. When you take out an auto loan, a lien is created, which is a lender’s legal right to possession of the vehicle until the loan is repaid. That means if you default on the loan, like… Read More

How Does Refinancing a Car Work?
    It’s a simple principle. Refinancing a car is a process where an existing car loan is paid off and replaced with a new one, often with a different lender, that has new agreed upon terms. Many people want to refinance a car to save money or find terms that are otherwise better suited to their situation. There are various possible outcomes, but three things borrowers often look for are a lower interest rate, different loan duration or monthly payment amount. Let’s look at these areas in more detail. 3 Potential advantages to refinancing an auto loan: 1. Lower… Read More

Going off the grid for Memorial Day weekend
5 scenic park getaways to unplug and unwind Why not make the most of the long Memorial Day weekend with a break from the norm? These five trips will feel a world away from home, yet are surprisingly accessible. So get ready to relax and enjoy some of America’s finest state parks and protected areas. You might be able to finally test the AWD on the SUV, too.   Adirondack Park, NY At more than six million acres in size and with 2,000 miles of hiking trails, this place is plenty big enough to get lost in nature – in… Read More

What to know when buying a car out of state
Sometimes the perfect car is just a short trip to the dealership away. Other times, you’re looking at buying a car out of state – and that comes with a bit more legwork. Doing your research first, however, will put you on the front foot. Tips for buying across state lines Check your home state requirements Check the laws that affect registering an out-of-state vehicle with your own state’s department of motor vehicles (DMV) or vehicle registry body to get an overview of the process. Look at requirements for vehicle standards, including emissions, inspections, transporting the vehicle and any other… Read More

Try the free RoadLoans app for car shopping made easy
    When was the last time you shopped for a vehicle? Whether you’ve clocked plenty of miles or are new to it all, the RoadLoans app can make the experience fast, simple and hassle free. Simply downloading the app to your iPhone or Android phone places handy auto financing and car-shopping tools right in the palm of your hand; available to help whenever and wherever you want. Here’s what you can do: Estimate a car payment – You don’t want to bite off more than you can chew, and the payment calculator enables users to gauge what an affordable… Read More

How to lower APR on a car loan
  6 tips for getting a low rate and boosting your chances to save Lowering the annual percentage rate (APR) on a car loan is one of the best ways to save on vehicle financing and the total cost of buying a car. And it’s not complicated – there are simple ways to approach it. Here are six tips for dropping the APR on an auto loan. 1. Check your credit reports, and consider building credit Whether you want to save cash on financing for your existing car or look for a low interest rate and APR to buy your… Read More

Cars you’ll never want to get out of: Wards Auto names best interiors of 2017
  It’s what’s on the inside that counts, and no one knows that better than Wards Auto, the automotive industry news source that just released its annual list of 10 best interiors. Now in its seventh year, the awards program honors outstanding achievement in aesthetics, comfort, ergonomics, materials usage, fit-and-finish and user-friendly electronics. There’s no price cap, and the nominees feature interiors that are all-new or significantly improved from the previous year. This year’s winners include seven brands never to have made the top 10 before, plus three returning winners – Lexus, Honda and… Read More

How do auto loans work?
    So how do auto loans work? Since most people buying a new or used car opt for financing it’s an important question, and understanding the answer will help you in the purchase process. To summarize, you take out a car loan with a lender to pay for the purchase of a vehicle and, by signing the loan contract, agree to pay back the money in installments over the course of the loan, according to its terms. These terms include key factors like the finance charge, loan duration and the size of the monthly payment. Most auto loans are… Read More

How long can you finance a new or used car?
  Experts agree that the shorter a car loan the better, largely due to savings on interest charges. Yet with the trend among car buyers for longer terms (some up to 96 months, or eight years), where does that leave you? Consider the options. Pros and cons of shorter and longer car loans The average length of a car loan at the start of 2015 was 67 months; that’s over five and a half years, and about five months longer than in 2010, according to Debt.org, a debt help organization. “The trend is going even longer with 30 percent of… Read More

‘Fast and Furious,’ traffic nightmares, best used cars and more
There are a lot of good auto blogs online, and we think the RoadLoans blog is one of them. What readers may not realize is that RoadLoans is a direct-lending program of Santander Consumer USA (SC), which also has a blog providing more content intended to engage, inform and entertain readers interested in news and trends about or related to cars, trucks and SUVs. Following are snippets of recent content, and links to the SC posts if you want to read more:     Putting pedal to the metal What would you expect from a macho movie series about cars… Read More

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