Auto Finance and Car Loans

What is special financing and could it help me buy a car?
    Special financing is a term often used to describe auto loans for consumers with bad credit* – which can include people who have been through bankruptcy or repossession – and limited credit histories. There are plenty of companies in the auto finance industry willing to accept applications for subprime loans, so if your credit is poor, there may be a lender ready to offer you financing that will help you get on the road. First of all, keep in mind auto loans for people in bad credit situations typically come with higher annual percentage rates than those offered… Read More

Finding an auto loan during bankruptcy
  When financial setbacks occur, bankruptcy is sometimes the best way forward. Life moves on and, for most people, a car is essential to that process. But can you get a car loan while in bankruptcy? It depends, in part, on the type of bankruptcy for which you’re filing. The two common forms of personal bankruptcy are Chapter 13 and Chapter 7. Financing while in Chapter 13 bankruptcy Chapter 13 enables a debtor with a steady income to keep hold of property they might otherwise lose to the bankruptcy process. A plan is created to pay creditors all or part… Read More

Useful car terms to know
Talking about cars can get complicated at times, especially if you’re not familiar with the terminology. The following articles explain some automotive terms you may come across in different situations, from trading in a vehicle to getting a service. Click the headlines to learn more.     Car terms to know when trading in your vehicle Walk into the dealership with the confidence to negotiate a better deal by understanding the likes of “trade-in allowance,” an “upside down loan” and “rolling over.”   Car terms to know when getting a service Have you ever got your car serviced without knowing… Read More

Great reasons to shop for a car over Labor Day weekend
  … and how to save time when you’re there.     With the end of the summer near, Labor Day marks a time of change, and, for car buyers, that presents one of the best times of year to shop. New 2018-model-year cars are starting to arrive at dealerships, which makes it a good weekend to check out the latest vehicles. It also means dealers are looking to move 2017 models to make space for them, and that spells great deals and discounts. With dealerships across the country offering sales events for limited periods, expect them to be busier… Read More

How checking the car title can help you make good buying decisions
  Car titles are one of the basic parts of vehicle ownership, and knowing a little about them, and what details to look out for, will help you when it comes time to buy, sell or transfer ownership of a car. Starting off with an explanation of what a car title is, this article tells you what information it contains, how it may affect your buying decision, how to transfer a title, and also covers different types of car titles you may come across. Whether you’re looking at the paper title while checking out a vehicle in person or viewing… Read More

How RoadLoans works: I got my car loan, now what?
  Yes, we know that getting the financing first flies in the face of car loan tradition. But we also know that it works for you, the new car shopper. And it’s an approach more and more financial experts recommend. For the sake of this post, we’re going to assume you’ve done that, and that the car loan amount and payments fit your budget. “So, I got approved for a car loan, now what?” you ask. In the case of RoadLoans, you should download and print your loan packet and take it to your recommended dealer nearby. Then work with your RoadLoans dealer… Read More

How to buy a used car from a private seller
  Buying a car from a private seller can seem like stepping into the unknown, but understanding the process upfront may help avoid wrong turns and enable you to secure a vehicle you’re confident with. Take a look at these tips before you shop. Research vehicles online Where should you start when you want to buy a used car? Online is the best place, according to the Federal Trade Commission (FTC). Research vehicles to find out what’s best for your needs and budget. Check out a car in detail Once you’re shopping for vehicles and find a model that you’re interested in,… Read More

Preapproved auto loans give shoppers an advantage
  When buying a car, ideally you’d pay cash for the vehicle in order to negotiate aggressively on price and avoid monthly payments and interest charges. In reality, few of us can do that, so finding the right financing becomes important. Preapproved auto loans are a good option in a number of ways, and you can apply for preapproval with a range of lenders, such as banks, credit unions, finance companies and online lenders. If approved, advantages include knowing the terms of your loan before walking into the dealership, and an empowered, streamlined car-buying process where you can focus on… Read More

4 Things first-time car buyers should know
  Walking into a dealership with the correct documentation, information and knowledge to purchase a car is a big help, especially for a first-time car buyer. Here are four important points to keep in mind to save time and reduce stress: Research: Never buy a car without doing some type of research. Walking into a dealership and aimlessly walking around as if you are shopping for clothes will leave you a disappointed customer. When researching, it is best to take everything into consideration (wants/needs). Creating a chart of the elements of the car that you can and cannot go without… Read More

Private party auto loan – What is it and how does it work?
    When it comes to purchasing a new vehicle, there are several directions you can go. You could buy directly from a dealer, get one from an auction house, maybe a company-owned fleet car or you could purchase from a private seller. If you go the private-seller route, you might need what’s known as a private party auto loan. And if so, here’s what you need to know. Let’s start with private party auto loan: what is it? What is a private party loan? In simple terms, a private party auto loan or a person-to-person loan is a loan… Read More

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