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Recent Articles In Financing

Car loans for students make sense when done right
  College comes with its commitments, not least of them financial, and plenty of students wonder how buying a car fits into it all. Even with a part-time job, saving up for a vehicle may not be a realistic option, especially if you want something reliable. That’s why car loans for students are the answer for many college-goers, even if they have no credit history to speak of. Finding suitable lenders and applying for credit is not hard – online companies such as RoadLoans streamline the process with a quick, one-page application and instant decisions. And if approved, not only… Read More

Car loans for first-time buyers
  If you’re looking into car loans for first-time buyers then you’ve likely got questions about the financing process. How easy is it to get a loan for your first car? Can you get a loan with no credit history? What are the options? Don’t worry, lenders like RoadLoans make it their business to accept applications from people starting out like this. Our process is quick, simple and, if approved, you can even shop and drive the same day. Here are some tips to help as you go forward.   Tips for first-time buyers needing an auto loan   Consider… Read More

Different types of car loans explained
  Although not quite as varied as cars themselves, auto loans come in many shapes and sizes according to the lender, the needs of the borrower and the vehicle in question. So many variables can result in greatly different loan processes and structures, but here are the main types of car loans explained.   Secured auto loans The car acts as collateral for the debt so, if the borrower fails to make payments, the lender can repossess the vehicle and resell it to recoup its losses. A lien is the legal arrangement that makes this possible. The lender is listed… Read More

What is the average car payment, and what can you afford?
  • Average monthly payments are $515 for new and $371 for used vehicles • Rising car prices contribute to higher payments but longer loan terms temper the monthly increase • Auto finance calculators will help estimate what may work for you   With a car payment likely to be one of your highest monthly expenses, it’s important to know what you may be able to afford before financing a vehicle for the next several years. Rising car prices make buying a new vehicle more challenging for many Americans and, along with increasing loan amounts, have contributed to the current… Read More

Do guaranteed auto loans exist?
  You may have seen advertising for “guaranteed auto loans” and “guaranteed auto loan dealerships” while shopping for car financing, especially if you have bad credit.* It sounds appealing, but you may want to ask yourself how a company can offer a guarantee without knowing your individual credit and financial situation, or what type of vehicle you want to buy. At RoadLoans, we don’t claim to offer guaranteed auto loans but we can give you some tips on how likely you may be to get approved and, if so, what kind of interest rate you might get. You may also… Read More

Average new- and used-car prices, and the advantages of flexible financing
  The average price of a car has been increasing steadily in recent years and, while cost varies by vehicle type and manufacturer, the overall figures may help you understand what’s affordable for your next purchase. The average new-car price stood at $36,113 toward the end of 2017, up from $33,525 just five years ago, while the average used-car price increased from $16,900 to $19,400 over that period, according to Kelley Blue Book and Edmunds data.     New-car prices have risen in step with the economy since the Great Recession and the average price is now beyond the means… Read More

How to pay off a car early and save money
      Think what you might do with no monthly car payments in your budget. Take more vacations, enjoy more evenings out or build up a savings pot for the future, perhaps. Whatever it is, pay off your car early and not only is that debt behind you, but you may have made a decent saving in interest charges, too. There are several common approaches to paying off a vehicle early, which center on making more frequent payments; regular extra payments; an occasional large payment; a combination of these, and refinancing. Start off by getting familiar with the details… Read More

Have you been declined for an auto loan, looking for a second chance?
    Getting declined for an auto loan can be frustrating, but doesn’t have to stop you in your tracks. Often, a rejection decision may be because of bad credit* yet there are many lenders who will loan to people with poor credit scores, so it makes sense to look for a second chance. A lender like RoadLoans, for example, accepts applications from consumers with all types of credit and has years of experience helping customers move forward in the vehicles they want. Here’s how to go about getting that second chance at an auto loan: Check your credit report… Read More

Can I get approved for a car loan?
  While you won’t know for sure whether you can get approved for a car loan until you actually apply, it’s not too hard to get an idea of what your chances may be, and how to maximize them. First, keep in mind each lender is different and may evaluate an auto loan application on a different set of criteria. Online lender RoadLoans, for example, uses a unique scorecard based on years of lending experience to decide on applications. So even if you happen to be declined by one lender, it may not be the case with another. There are… Read More

How to use your tax refund for a car purchase
If you’re in the market for a new vehicle then you should know something about tax season: tax refunds and car loans are a good match.* That’s because refunds, which have averaged around $3,000 in recent years, can provide many approved buyers with a ready-made down payment on a car, or at least a useful chunk of it. And that money down may in turn lower their monthly payment and total financing costs. The following infographic has been put together for car shoppers expecting a tax refund, and outlines how it may be used to get a new or used… Read More