Understanding Vehicle Financing With prices averaging more than $20,000 for a new vehicle and $9,500 for a four-year-old vehicle, most consumers need financing or leasing to acquire a vehicle. In some cases, buyers use “direct lending:” they obtain a loan directly from a finance company, bank or credit union. In direct lending, a buyer agrees […]
Archive for the 'auto loan' Category
Here is what you need to do before you arrive at the dealership. By taking these steps you will save yourself money as well as time: Do some research: Determine how much you can afford to finance on a monthly payment. Look at all your income and deduct ALL your expenses. If you are making […]
Mortgage Troubles Could Spread To Auto Loans
Posted in auto loan, Automotive, Bad Credit, Bankruptcy, Cost of Ownership, Credit Scores, Financing on Nov 20th, 2007
Analysts are worried. They are worried that rising troubles in the mortgage industry could spill over into the auto loans industry. In a recent article on Autonews24h.com, Lehman Brothers financial analyst Brian Johnson said his analysis of auto loan-backed securities sold by Ford Motor Credit Co. (NYSE:F) and GMAC Financial Services (NYSE:GM) showed some higher […]
Chrysler To Offer Big Rebates On Last year Models
Posted in 0% Financing, auto loan, Automotive, Car Budget, car buying incentives, Cost of Ownership, Financing, Incentives, Rebates on Nov 10th, 2007
In a bid to move remaining Pacificas, Crosfires, Magnum wagons, and PT Cruiser convertibles, Chrysler is offering huge discounts on remaining models. These particular models will be dropped from the line-up next year. Heavy incentives will be offere starting in late November, and going on through December. That last month of the year in particular, […]
Auto Loan 101
Posted in auto loan, Automotive, Financing on Nov 5th, 2007
The 5 step process in getting and negotiating an auto loan. 1. Get pre-approved 2. Tell the loan counselor the type of vehicle you want and the amount you want to borrow. Remember that tax, title and tags will add to the price, so factor those costs in. 3. Negotiate the purchase price 4. Get […]
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