What Is Negative Equity? Upside Down Auto Loans Explained

If the total amount of money you owe to your auto lender is more than the value of your vehicle, you have what auto finance people call “negative equity.” This is also known as owning a car that’s “underwater” or “upside down.” This is a pretty common circumstance. CJ Pony Parts put together a nice […]

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As Automotive Creditors Loosen Lending Restrictions, America Loses

Without being boastful, I’ve looked at thousands of credit bureaus in my 7+ years as a dealership manager. I’ve interviewed hundreds of people with less-than-perfect credit, and I can tell you that people with bad credit scores fall into one of the following categories: 1. The genuinely down-on-their-luck. Financial problems like the death of a […]

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Thumbprints on car loan contracts

Thumbprints To Buy Cars?! Absurd.

Thumbprints may help deter thieves, but the truth is that dealers and lenders have more than enough information to stop false vehicle purchases. The problem is that a lot of dealerships are so desperate for a sale they throw caution to the wind.

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7 Credit Crisis Bad Credit Car Buying Tips

If you’re like a lot of Americans, the current financial crisis has come as a bit of a surprise. While the government works out a plan to solve the credit problem, many consumers are finding it difficult (sometimes even impossible) to buy a car. It’s not that cars are too expensive – far from it […]

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A Little Counsel on Credit Counseling

Recently I was asked what I thought about using a credit counseling service. Although I’ve never used a credit counseling service (no matter how many times it was suggested by my significant other) I have a pretty good understanding of the process – and some strong opinions too. At first glance, the idea behind credit […]

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