Posted in auto loan, Lower interest rates, Credit Scores, car buying incentives, Financing, Automotive on Apr 30th, 2008
The Federal Reserve lowered interest rates today by a quarter of a point to 2%. Don’t expect the rate to go lower any time soon though, as the Fed has indicated that rates will remain steady for a while.So who does this rate cut affect? If you have fabulous credit, then listen up. You can […]
Posted in Credit Scores, auto loan, Chrysler, Bad Credit, car buying incentives, Financing, Incentives, Automotive on Apr 25th, 2008
With the credit crunch in full-force and consumers having a difficult time paying their bills, those who need a new car and don’t have superb credit scores may now be able to qualify for a new car with Chrysler, reports the Detroit Free Press. Especially with Chrysler’s 15.5 percent decline in sales this year compared to last […]
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 will […]
Posted in auto loan, Credit Scores, Financing, Automotive 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 […]
Posted in auto loan, Car Budget, Financing, Automotive 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. […]
Posted in auto loan, No Credit, Financing, Automotive 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 the dealer to beat […]
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 to […]
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 a car […]
Posted in Cost of Ownership, auto loan, Credit Scores, Bankruptcy, Financing, Bad Credit, Automotive 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 […]
Posted in Car Budget, Cost of Ownership, auto loan, car buying incentives, Incentives, Financing, Rebates, 0% Financing, Automotive 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, […]