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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.
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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.
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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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Hundreds of thousands of people lost their homes to foreclosure in 2007. Thousands were laid off from their companies. Soaring gas and food prices have hit consumers’ wallets hard.
In the midst of all this economic mess, so many people have damaged their credit. So let’s say that someone needs a car to get to work, or their current car recently died or was totaled in an accident.
[...] .. Read More.
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