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Author Archives: Steve Cypher

Used Cars Becoming More Affordable

Credit challenged car buyers should be aware of the latest report from Manheim that shows supplies of used cars are increasing while prices are dropping Continue reading

Posted in Used Cars |

Better Business Bureau Helps Western Michigan Car Buyers

Especially for car buyers with problem credit, anything that makes the car buying process more transparent is a good thing. So a tip of the hat to the Western Michigan Better Business Bureau as well as the Grand Rapids and Holland New Car Dealers associations for making things easier for car buyers on the west side of the Great Lakes State. Continue reading

Posted in Used Cars |

Subprime Auto Lenders Backing Off

The moderation in subprime auto loans means that high-risk lenders can afford to be more selective. It also means that potential borrowers with less than perfect credit should check their credit reports, know their credit scores and plan on a larger down payment to maximize their chances of success. Continue reading

Posted in Bad Credit |

American Web Loan Worse than a Payday Loan

To say that the loans issued by American Web Loan are predatory is putting it mildly – the interest charged by most payday lenders pales in comparison. The mere fact that tribal lenders can ignore the majority of federal and state lending laws should be a wakeup call to anyone considering this type of loan. Continue reading

Posted in Lender Companies |

Understanding Lease Equity

Typically, leased vehicles aren’t worth more than their residual value at the end of a lease. Consumers nearing the end of a lease, however, should first check their vehicle’s value before turning it in; otherwise, they could be leaving money on the table. Continue reading

Posted in Auto Loans |

New Cars Somewhat More Affordable

Although the average price of a new car is a bit more affordable, borrowers should choose a reasonable vehicle if they’re financing one with a subprime loan. Doing that as well as maximizing the down payment while keeping both the loan term and payment-to-income ratio to a minimum will go a long way towards ensuring the successful completion of a high-risk car loan. Continue reading

Posted in New Cars |

10 Most Affordable New Cars for September 2014

When credit-challenged buyers are given the option of financing a new car, we suggest picking a model that’s affordable, fuel efficient and inexpensive to insure. Borrowers who do this will find themselves in a much better position down the road once they’ve reestablished their credit. Continue reading

Posted in New Cars |

Auto Loan Delinquency Rates Increase

As we see it, while subprime lenders continue to loan to higher-risk borrowers, any major increase in delinquencies could lead to a reduction in the number of loan approvals. Continue reading

Posted in Auto Loans |

Car Insurance Claims with Problem Credit

Since insurance can be particularly expensive for credit-challenged borrowers, these consumers need to carefully weigh whether or not they should file a claim with their car insurance carrier – especially if the damage is only a few hundred dollars above the deductible amount. Continue reading

Posted in Car Insurance |

Hyundai Unveils Rewards Program

Despite its shortcomings, the new Hyundai Rewards program further solidifies Hyundai’s position as the leader in finding innovative ways to approach automotive sales and service. That’s because this newest program has the potential to help at least a few credit-challenged buyers save hundreds and perhaps thousands of dollars on a new car. We can only hope other manufacturers will see the benefit and follow Hyundai’s lead. Continue reading

Posted in New Cars |
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