Auto Finance and Car Loans

How car repossession works
  Whether used for work or play, the automobile is a staple of American society. With many drivers getting on the road thanks to financing, so too is the monthly car payment. It’s not always a smooth ride though, and something like car repossession can be a big obstacle to negotiate.* What is car repossession? When you signed for that loan or lease, you signed a contract that gave the creditor or lessor rights until the vehicle is paid off, or until the lease ends. If you don’t fulfill your obligations, like meeting your payments, the creditor may have the… Read More

Car loans for students make sense when done right
  You might think that another financial obligation is the last thing a student would want to take on. But sometimes, it’s necessary. For example, most college students need reliable transportation to get to school, an internship or a job, and that might require taking out a car loan to ensure transportation is available. Even with no credit history, tuition costs and educational expenses to contend with, car loans for college students may be easier to get than you think. Everyone needs to start somewhere, and for many young drivers and first-time car buyers, it’s with the help of financing.… Read More

How long can you finance a new or used car?
    Wander through the world of car loans – as most of us do every several years – and you’ll almost certainly find two things: Experts agree that the shorter a car loan the better due largely to savings on interest costs. Car buyers are getting longer and longer loan terms – with some taking out financing as long as 96 months, or eight years. With the actions of car buyers seemingly at odds with expert opinion, where does that leave you? Let’s look at these points in a bit more detail.   Pros and cons of shorter and… Read More

Buying a car out of state
Cars can be like shoes; shopping for them may involve trying them on and seeing how they fit. Other times, your previous test drives have informed your decision, and all you really need to choose now is the color. And sometimes, the vehicle that’s just right for you means buying a car out of state. Hmmm. You might have questions at this point. That’s normal. There are certainly things involved in buying a car from another state that you need to be aware of, but we’ll do what we can to give you some direction and soften the blow.  … Read More

Understanding an upside-down car loan and your options
What is an upside-down car loan? An upside-down car loan can really catch you off balance, and it’s a growing problem in the United States, according to, America’s debt help organization. You may have heard the phrase before and are wondering what exactly an upside-down car loan is. It’s a situation in which the money you owe the auto lender is more than the vehicle is actually worth. For example, you still owe the lender $12,000 on your car, but its value is just $9,000, so you are upside down on that loan by $3,000. An upside-down car loan… Read More

Car loans for first-time buyers
  The good news on car loans for first-time buyers is that some of them will have nothing negative on their credit reports. The bad news is that many have little or nothing at all on their reports. Car buying can be an uncertain and even daunting process, and trying to obtain a first-time auto loan may contribute to that feeling of uncertainty. Establishing credit for first-time car buyers* Consumers with no credit history who are seeking a car loan for the first time may be able to establish credit with some simple steps. The Consumer Financial Protection Bureau (CFPB), a… Read More

Know your options when shopping for car financing
  Finding a car loan can seem like a daunting task to many potential car buyers. With a wide variety of options to choose from and factors to take into consideration, car loan shopping can be overwhelming. However, finding financing options doesn’t have to be so scary. The Federal Trade Commission (FTC) advises consumers to shop around for their financing, and here is some information that may help you find the best car loan for you. Hopefully, the following tips can help narrow down your car loan options and give you a positive shopping experience.* Auto loan options Dealerships Getting… Read More

What is RoadLoans?
RoadLoans is an online, direct-to-consumer auto lender specializing in car loans and auto refinancing, serving customers in the Untied States. It is the direct lending division of Santander Consumer USA, a Dallas-based financial institution. RoadLoans accepts auto loan applications for both new and used vehicles from people with all credit profiles, including buyers with bad credit, no credit, or that have gone through bankruptcy.* Operating online, RoadLoans provides an auto finance process with instant loan decisions, and qualified applicants can get pre-approved for their auto loan before visiting a car dealership. RoadLoans’ auto loan process can be outlined like this:… Read More

Tax refunds and car buying: Six steps from check to open road [Infographic]
For many Americans, it’s the time of year when Sam becomes their favorite uncle. Right now, Uncle Sam, the big man with the hat, is in the process of dishing out tax refunds to millions of people across the land. If you’re one of them, and awaiting a fat check with the government’s best regards, you might be thinking about using the money to buy your next vehicle, perhaps by way of a down payment. By a huge stroke of good fortune, we’ve put together an infographic outlining how you can do just that. Our six simple steps will expertly… Read More

What to do with your tax refund: Buying a car
Some 76 percent of tax returns resulted in a refund averaging $2,989 in 2015, according to the IRS. For those in line for some cash, tax season provides a welcome start to the year and instantly raises the question of what to do with the windfall. If you’re in the market to buy a new car, using that tax refund for a down payment may help you get the shiny vehicle you want. What you can afford For a start, a down payment may affect how much car you can afford. Use an affordability calculator to see how money down… Read More

1 2 17