Finance

Car Repossessions Are Rising Fast First things first, car repossession rates have seen a significant increase in recent years. Subprime auto repossessions have risen by 11% since 2020, while prime borrowers' repossession rates have doubled within the same period. Cox Automotive said that by the end of 2023, 1.5 million cars will have been taken, up from 1.2 million in ...

When there are so many different alternatives available, finding the best car loans can feel like an unpleasant chore. This article aims to ease the complexities of car financing, and offering valuable advice for those interested in cars - from enthusiasts and DIYers to mechanics, gearheads, collectors and racers. For those with poor credit, we'll explore how your credit score ...

What Is An Upside-Down Car Loan? Being upside-down on your auto loan simply means that you owe more than the car is worth. It's also known as being underwater on the loan or having a negative-equity auto loan. If you wish to trade in your car but have negative equity, you must pay it off before you can get a ...

Those who own automobiles and have automobile insurance are financially covered in the event that their vehicles are stolen, damaged, or involved in an accident. Those who do not have automobile insurance are not financially protected. The person who owns the car is responsible for paying the insurance provider a premium to get the company's financial protection in case of ...

Don't sweat it if you've gone through bankruptcy proceedings, because buying a car after bankruptcy is definitely possible! Sure, you may have to pay higher interest rates, but that's just the cost of being financially responsible again. The best thing you can do is wait a bit and let your credit score improve so you can get a better loan. ...

Hey future scholars and car buffs! Got that hefty check for your schooling, right? The one shouting "Fuel your mind, not a motor!" But the allure of cruising in a slick new whip may be gnawing at you. Before swapping textbooks for car keys though, let's unpack why using student loans to snag a vehicle could send you on an ...

Opting for a second-hand vehicle is a financially savvy decision that doesn't skimp on reliable transportation. However, obtaining financing options may pose more of a challenge if you have a poor credit score. Here are some of the top ways to buy a used car with bad credit: Look for Private Buyers Private buyers might be ready to work with ...

What is an Auto Loan? Auto loan is a financing option that enables individuals to purchase a new or used vehicle. The loan is secured, which implies that the car serves as collateral for the loan. In essence, the process involves borrowing money from a lender and agreeing to repay it with interest within a specified timeframe. Car loans are ...