Auto Loans Questions

hundred dollar bill burning
Oct, 11, 2012
Auto loan prepayment penalties are essentially financial punishments intended to dissuade borrowers from paying off their debt too early, which effectively robs lenders of interest payments and profit.
signature on contract
Oct, 9, 2012
Anyone who cosigns a car loan is responsible for that financing if the actual borrower fails to keep up with payments. This can have massive repercussions for both parties in the event the primary borrower defaults. Car loan questions usually pertain to borrowers, however, cosigners should ask questions of their own prior to signing a contract. Unemployment, increased expenses, loss of equity, or any number of other causes can lead to defaults. Subsequently, lenders will do everything in their power to collect on the owed debt.
Car with calculator and pencil
Sep, 21, 2012
There are a few ways borrowers can lower their car loan rates. Car loans can sometimes carry interest rates that turn into a financial burden for borrowers even if borrowers have steady incomes and low debt. Then, for those in financial distress, some interest rates make auto payments downright unmanageable. Fortunately, borrowers can refinance their auto loans for a chance at lowering their car loan rates.
White Japanese motorcycle
Sep, 20, 2012
Obtaining a motorcycle loan is similar to getting a car loan since both are automotive vehicles commonly sold at dealerships. Borrowers can expedite their application process by being prepared and informed prior to meeting a lender. The first step borrowers should take is to shop around for a motorcycle. When looking for that perfect bike, borrowers should think about how much money they can put towards the down payment on a motorcycle and how much they are willing to borrow. Ideally, borrowers should take out as little as possible since all borrowed money carries interest.
Red car on coins
Sep, 17, 2012
Despite some common misconceptions, borrowers and car owners may still be able to sell their vehicle even if they still owe money on the auto loan for it. The first thing borrowers and car owners should do when considering selling their vehicle is to speak with their lender. Auto loan financiers are used to the process and would be able to inform their borrowers of specific policies and guidelines that must be followed. Speaking with a lender prior to selling a vehicle can help borrowers avoid major headaches or disappointments later on.
Sunlight on a car
Sep, 12, 2012
A car refinance loan pays off an existing auto loan and results in a borrower making payments to a new lender with new interest rates. Borrowers typically seek car refinance loans in order to get lower interest rates and reduced monthly payments. For this reason, borrowers who currently have auto loans with high monthly payments or high interest rates should consider filling out an application for a car refinance loan. This is particularly true for borrowers who obtained high interest financing at an auto dealership.
What happens to car title loans in bankruptcy
Aug, 23, 2012
Unfortunately for borrowers undergoing bankruptcy, car title loans are not permitted to be discharged through bankruptcy proceedings.
House and cars
Jul, 31, 2012
Car loan rates are influenced by fewer factors than mortgage rates are. This is not so much a result of the massive value differences between homes and vehicles, but rather because of outside influences. Mortgages are influenced by federal and economic factors while car loan rates are more removed from the influence of national financial instruments, and instead rely more heavily on individual borrowers themselves. The Not so Many Factors of Car Loan Rates Car loan rates are primarily influenced by four factors:
Repo man repossessing a vehicle
Jul, 26, 2012
Unfortunately, those who default on a car title loan often find their vehicles repossessed by their lender. Car title loans are a type of financing available to those with bad credit and poor financial histories. Unlike bad credit cash advances though, auto title loans are usually given for longer terms and slightly better interest rates. However, in order to satisfy the demand of bad credit borrowers, auto title lenders require that a car be put up as collateral for their money.
Finger choosing one of many options
Jul, 6, 2012
Deciding where to borrow money for the purchase of a car can have a large impact on the overall price of a car loan. A diverse range of lenders are in the auto lending industry and each has different methods of lending money. They also have different costs and benefits for borrowers looking to purchase a car. Finding one that fits your needs should be priority number one. Here is a quick breakdown of the auto lenders available to car shoppers: