Most people’s first car is a hand-me-down or a junker. You probably didn’t have to take out a loan to buy it. Maybe now you’re a little older and you need to replace that heap of rusty metal with a more reliable and newer car. Can’t pay in full? There’s a good certainty that you […]
Archive for the 'Financing' Category
Buying a Car? Get That Credit Score Up First!
Posted in auto loan, Automotive, Credit Scores, Financing on Apr 24th, 2008
With many lenders tightening their requirements before they give you a car loan, it’s in your best interest to get your credit score as high as possible before you apply for financing. Buyers will find that lenders are requiring higher credit scores because they’ve been burned by the rising delinquency rates of consumers. So how do you get […]
Car Purchases Could Depend on Gas Prices
Posted in Automotive, Financing, Fuel Prices, Gas Prices, Hybrids on Apr 23rd, 2008
As the price of gas keeps climbing closer to the inevitable $4 a gallon mark, consumers are starting to look at more fuel-efficient cars as a reality. At first, hybrid cars, for example, were trendy and were driven by environmentally-conscious hippies and celebrities. Now it seems like a very realistic option for buyers who want to […]
Proposal Will Require 35.7 MPG by 2015
Posted in Automotive, Financing, Fuel Prices, Gas Prices on Apr 22nd, 2008
If approved, new cars in 2015 will have to get at least 35.7 mpg and 28.6 mpg for light trucks. The U.S. Transportation Department will announce the proposal today, which is coincidentally Earth Day. With a new record national average price of $3.51 a gallon on Monday, the Bush administration is trying to do everything […]
U.S. Auto Sales Drop Across The Board
Posted in 0% Financing, Automotive, car buying incentives, Financing on Apr 2nd, 2008
March has been a tough month for automakers selling in the U.S. The economy is the weakest it’s been in years and consumer spending is weakening. Reports out of Detroit are saying there’s been a 12% sales decrease which seems like a small number, but translates to millions of dollars. Dealerships across the nation were […]
Is this the Perfect Storm to Buy in?
Posted in auto loan, Automotive, Car Budget, Financing on Mar 14th, 2008
With news of manufactureres cutting production on large trucks and SUV’s another announcement recently really turned my head. Chrysler is shutting down! That is right they are shutting down for two weeks this summer. Did I wake up and find myself in Europe? No, Chrysler says they are doing much needed changes to production lines. […]
Reasons to Get a Car Loan Now
Posted in auto loan, Automotive, Financing, No Credit on Mar 7th, 2008
In an article at Marketwatch.com Marshall Loeb writes about what a great time it is to take out a loan for a new or used car. His key points: – Do your homework – Figure out what you can afford – Try to get a loan from another source other than the dealer – Then ask […]
February Car Sales Down, Time to Buy a New Car
Posted in car buying incentives, Financing, Ford, Incentives, Toyota on Mar 3rd, 2008
Today both Ford and Toyota have reported that sales in February were down. Ford was down 6.9% and even the F Sereis pick up was down, Ford’s big selling product. Toyota wasn’t much better, down 2.8%. Toyota Corolla sales dropped the most for them. The good news as you will see in an article in […]
SHOULD I LEASE A VEHICLE?
Posted in Automotive, Buying vs Leasing, Financing, Leasing on Feb 18th, 2008
If you are considering leasing, there are several things to keep in mind. The monthly payments on a lease are usually lower than monthly finance payments on the same vehicle because you are paying for the vehicle’s expected depreciation during the lease term, plus a rent charge, taxes, and fees. But at the end of […]
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 […]
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