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 […]
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.
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 […]
Here’s a question we received recently: I am looking to buy a new car and am a little scared about financing. I was turned down by Bank of America because they don’t accept anyone for financing with less than three years of credit. I am 26, my credit score is 745, and I have 5 […]
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 […]