Joint vs. Cosigned Auto Loans: What You Need to Know
You finally decided it’s time for a new car. That’s fantastic. You’re certainly not alone with more than 272.4 million privately owned vehicles on American city streets. Your next step is to explore your options for financing the purchase. And if you’re married, in a domestic partnership or want to explore all your options, you […]
Trade in vs. Refinancing: What Makes Sense for You
Making the decision to trade in your car or refinance your auto loan is a big one. However, there are several things you’ll want to consider before making a decision. In this article, we’ll explore some key factors you should examine when choosing. How Trade-Ins Work When you trade in your car, you’re essentially selling […]
Buy a Car With Cash or Finance? Which Option Is Best for Your Personal Finances?
When you’re in the market for a new car, you have two main options for paying for it: cash or financing. Both have pros and cons, so it’s important to weigh your options carefully before deciding. We’ll break down the key differences between paying cash for a car and financing one, so you can make […]
How to Get Out of a Bad Car Loan
With average payments for new vehicles climbing higher and higher, it’s no surprise that many people are finding themselves in a bad car loan. If your monthly payments are eating into your budget or you’re interested in a new vehicle with better rates, it might be time to get out of your current car loan. […]
If I Refinance My Car, Will I Lose My Warranty?
Refinancing a car loan can be confusing, particularly if you haven’t done it before. One question you might have is whether your car warranty (or warranties) will continue under your new loan. If so, breathe easy — most manufacturer warranties do remain in effect. Don’t let that keep you from trying to refinance and get […]
How Many Auto Loans Can You Have at Once?
Chances are, if you’re a licensed driver, you probably have a car loan. Around 85% of all new car purchases and 53% of all used car purchases are financed in the U.S., according to a report by Experian. The average American household also has more vehicles than drivers, and many of those additional vehicles are […]
How Long Does It Take to Refinance a Car?
The time it takes to refinance a car loan depends on a few factors, including the completeness of your loan application and your lender’s policy. The process can happen quickly, often within a few days of your application. Preparing for refinancing, including checking your credit reports and making sure that you can document the information […]
What Is a Good Interest Rate for a Car Loan?
If you’re considering buying a car, there’s a good chance you’ll wind up taking out an auto loan. The majority of drivers rely on car loans to cover all or a portion of their automotive purchase. In fact, Americans have about $1.18 trillion in car loans in total. The interest rate on your car loan […]