Recent Articles In Financing

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

Is it better to lease or buy a car?
  Compare the pros and cons to help you decide The soaring popularity of leasing in recent years may have you asking whether it is better to lease or buy your next car. Once associated with luxury cars, leasing has become mainstream and reached an all-time high of 4.3 million vehicles in 2016. So, should you join these millions of drivers and enjoy a monthly car payment that’s typically lower than an auto loan payment? An offshoot of the current leasing trend worth considering is the surge in off-lease vehicles entering the used-car market, which is lowering prices to the… Read More

What I learned about the car-buying experience, and how you may improve yours
    Everyone has a story about buying a car. Whether it was the first or 15th, it’s probably an experience that will never be forgotten. When my father was recently looking to replace his car, I tagged along and watched the process he went through, and learned a lot.   The dealership experience We really relied on the dealership staff to steer us toward the right product – one that truly met our needs. Just because we had a personal relationship with the particular dealer we visited did not mean we didn’t go through “a process.” Things such as… Read More

How an auto loan cosigner or a co-borrower may help you get moving
  If you’ve been denied financing for a vehicle because you have no credit or bad credit,* then an auto loan cosigner or a co-borrower may be what’s needed to get on the road and on with your life. While a cosigner and co-borrower are different, each may boost your chances of approval and, if approved, better your loan terms. And what a difference having your own transportation can make, whether it’s getting to college classes to further your education, getting to work on time and stress free, picking up the kids from school or taking a relaxing road trip… Read More

How to shop for a car on Black Friday, and through the holiday season
  Black Friday has become one of the best times of year to shop for a car deal thanks to a “perfect storm” of conditions, and kicks off a whole holiday season of auto sales through the end of the year. Many carmakers have deep discounts on outgoing-year models, dealerships may offer their own reductions, the Thanksgiving holiday weekend falls at the end of the month – a time when dealership staff are looking to meet sales goals – and a great marketing buzz surrounds it all. It’s not all about new cars, either; research has shown there have been… Read More