Next: Auto loan basics
Learn how to navigate the auto loan or lease process from the people who process applications every day. The dealership experts teach you how to be prepared for the paperwork to finance your next vehicle. Dealership managers and finance managers share their advice with you so the auto loan process goes smoothly while you’re at the dealership.
Is it Really That Difficult to Get a Car Loan?
In the current economic downturn, all we hear in the media is that there’s no credit available and it’s nearly impossible to get a mortgage, auto loan or credit card. We see stories of lenders being afraid to take risks on consumers and we hear about a lack of money to lend to consumers. Now that economists and even the Federal Reserve Chairman say things have hit bottom and are start[…] Read More.
CARS Program Could Help Shoppers With Bad Credit Get a Car Loan
The government’s CARS program is expected to be finalized next Friday, July 24. When it starts, consumers will be able to trade-in their gas-guzzling clunkers for new, fuel-friendly vehicles. With a maximum rebate of $4,500, this bill could potentially help car shoppers with bad credit or no down p[…] Read More.
Cash Rebates Can Help Pay Off Current Upside-Down Car Loan
When car shoppers wanted to trade in a car that was under-water or upside-down, meaning you owe more on your auto loan than the car is currently worth, they used to be able to roll the negative equity over into the new car loan and just finance a larger amount. Auto lenders are leery about letting consumers do that nowadays. So now there are a lot of consumers who are stuck with vehicles they can[…] Read More.
Is it Harder Now For Buyers to Get Approved For an Auto Loan?
If you’ve read a newspaper, gone online or watched the news recently, you probably have seen reports saying that car shoppers are having a very difficult time getting approved for an auto loan. GM’s finance arm, GMAC, said that unless you have a 700+ credit score, you won’t be considered for a loan. Other banks and lenders are also tightening credit restrictions and making[…] Read More.
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