Recent Articles In Financing

How much should a down payment on a car be?
  A down payment on a car will be a requirement from the lender in many cases, and can also offer the borrower significant benefits, so deciding what you may be able to pay up front is time well spent. Twenty percent has long been recommended for new-car purchases, largely to offset depreciation. As new cars depreciate by a fifth in their first year, covering this amount with a down payment helps prevent becoming upside down, when the borrower owes more than the value of the vehicle. Negative equity can lead to a number of problems. For example, if your… Read More

How much car can you afford?
  Run the numbers with our calculator to shop with confidence You want to buy a great car for your budget as well as for you, the driver. That’s a solid plan. And an easy one, right? There are plenty of commercials telling you how affordable it is to get into a new or pre-owned vehicle. Many of those may be good options but, wherever you go to buy your next vehicle, you’ll be able to do so with more confidence if you work out how much car you can afford yourself. If you’re financing the purchase, like most buyers,… Read More

How to estimate your auto insurance when choosing a car
  Estimating your auto insurance is easily overlooked in the car-buying process yet it’s an important part of your long-term ownership costs. As rates vary according to vehicle, it may affect which car you end up purchasing, too. A little time now will soon give you an idea of what kind of premium you’re looking at for that car, or cars, you’re interested in. And once you’ve decided what coverage you need, websites like The Zebra, recommended by Consumer Reports, will do your comparison-shopping legwork and bring the quotes to you.   Work out how much coverage you need With… Read More

Financing for first-time car buyers with no credit history
    As a first-time car buyer with no credit or bad credit,* you might feel up against it. That’s understandable. Consumers with long and strong credit histories generally stand a better chance of getting financing from an auto lender, and may enjoy better terms and a greater choice of vehicles. But take heart. Many lenders are set up to work with first-time buyers, and guess what? Many of those consumers have limited or bad credit histories. When you’re in one of these situations, there are a number of steps that may be taken to make the whole process easier.   7 Tips for… Read More

How to choose and finance a first car for your teenager
  Buying a first car for your teenager is a balancing act. While the preferences of your son or daughter will no doubt be on your mind, there’s the need to get the safest car your budget will allow. And with such an array of new and used vehicles on the market, it can be difficult to know where to begin. Thankfully, there’s plenty of expert advice available to make it easier. “The best bet is to buy the newest, most reliable model loaded with the best safety equipment you can afford,” says Consumer Reports. More than that, it’s important… Read More

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