Tag Archives: auto loans

Subprime Auto Loans Easy Availability Lacking Regulation

Subprime Auto Loans Easy Availability.  The largest increase is among sub prime borrowers as might be expected.  Mississippi, South Carolina and Alabama are the worst offenders.  Expect regulatory scrutiny to tighten in the near future. New technology enables dealers to remotely disable ignitions when a payment is missed for ease in repossessing the vehicle. A

Looser Credit Drives Better Automobile Sales

  Looser Credit Drives Better Automobile Sales Because looser credit drives better automobile sales auto dealers this year have enjoyed their most robust sales since the beginning of the recession in 2007.  Looser credit drives better automobile sales as well as driver’s pent up need to replace older vehicles.  Many have made do with what

Refinancing Car Loans Soaring

 Refinancing Car Loans Soaring Low interest rates and pent up demand have caused a growing demand for people to refinance older car loans they may have gotten at a higher rate.  Many people have been riding out the recession by driving old but still serviceable cars longer. When you’re worried about job security a new car

Auto Loan Co-Signing Alternative That Keeps Friend

  Auto Loan Co-Signing Alternative That Keeps a Friend How will you react when the dreaded moment arrives when your friend or relative asks you to co-sign a loan for them?  They have to have that car.  Maybe they need it for transportation to and from work.  Maybe they need a minivan to take the

Auto Repossession Default Primer Part Two

Auto Repossession Default Primer Part Two This is the second part of an article called “Auto Repossession Default Primer.” Auto Repossession Default is most often done by the voluntary surrender of the vehicle when the debtor knows that losing the vehicle is inevitable and chooses not to fight it. It is better for your future

Auto Repossession Default Primer

Auto Repossession Default Primer We all know that if we fail to make payments as agreed on our auto the dealer’s ultimate recourse is repossession.  But how far in arrears can we go?  Exactly how does it work?  What gives them the right to do this?  What do I do if I’m under the gun? 

Auto Lending Eases

Auto Lending Eases Auto lending eases as banks maintain a tight fisted approach to mortgage lending. Lenders seem to be adopting the philosophy that auto loans with an average rate of 4.46% on a 5 year loan are an attractive and safe investment.  Many borrowers opt for 6 or even 7 year car loans.  Lenders

Car Buying Affects Credit Score

Car Buying Has a Good Effect on Your Credit Score Car buying financing will initially cause a dip in your credit score followed by an improvement as time goes on if you make all your payments on time. Why is this?  Let’s go back to the basics of car buying The loan application inquiry itself may