I’ve come across the following scenario quite a few times: I’ve broken-up with my boyfriend-girlfriend, and my problem is I co-signed on a car for him/her. I’ve asked them to take my name off the loan and get the car under his/her own name. What should I do to avoid being taken advantage of? Is […]
Here’s a good question from a young college student: I am graduating college soon and I would like to lease or purchase a new car. I have a credit score of about 640 and a cosigner who’s credit score is 730. I don’t have a job yet, but I have enough money saved to cover […]
When it comes to refinancing your car, it’s important to realize that there are really only three good reasons to do so: 1) You can get a better interest rate. If you can get a rate at least 1 percent better (and preferably 3 or 4 percent better), go ahead and refinance your auto loan. […]
If you’ve heard the words “negative equity” or “upside down,” there’s a pretty good chance that you’re trying to trade in your vehicle but you’ve been told that you owe more on your trade than it’s worth. There are a few things that cause you to be “upside down”: It might be that you’re trading […]
If you’re like most people, you don’t have a lot of time to futz around with getting a car loan. Luckily, there are quite a few things you can do to decrease the amount of time you’ll spend getting the loan you need. Regardless of your credit score or credit history, here are some tips […]
When shopping for a new car, a lot of times the question comes up: Should I take the big rebate, or should I take the special interest rate that’s being offered? The rebate is popular for sure – when you look at new car ads, you usually see the rebate advertised. In fact, manufacturers and […]
Whenever we’re asked about down payments, it’s usually one of two questions: “Do I need to make a down payment to buy a car,” and “How much should I put down?” The answer to the first question is, only if your credit requires it. If you have good credit, you don’t need to make a […]
You’ve just opened an official-looking envelope and learned that a creditor is sending you a collection notice — what do you do? First, if the collection is for a small amount of money, consider paying it (even if you don’t owe). Sometimes it’s easier and smarter in the long run to pay a collection and […]
Generally speaking, the best interest rate you can hope for on an auto loan is about ½ percent less than the prime rate. (Find out what the prime rate is if you’re not sure.) But before you go out and look for a interest rate that’s ½ percent less than prime, you’ll need to consider […]
When it comes to buying a car from a dealership, it’s important that you know about some of the things they are going to offer you in the finance office. Here’s a basic explanation of each. First, they’re probably going to try to sell you a vehicle extended warranty or service contract. Both have saved […]