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Author Archives: Steve Cypher

Obama Says Check Your FICO Scores

To begin with, knowing your credit scores is important. If you doubt that’s true, just ask the President. Secondly, the FICO Score Open Access program, once it becomes more widely available, could certainly help all consumers – even those with poor credit, as this would allow borrowers to see the same credit score that lenders use to manage their accounts. Continue reading

Posted in FICO score |

Paying Taxes on a Repossession

Borrowers having problems paying their car loans should call the lender and explain their situation. Not only is repossession is a black mark on their credit reports – often preventing them from getting a car loan for at least a year, it could end up costing them hundreds if not thousands of dollars in taxes owed to the government. Continue reading

Posted in Credit Repair |

Is Buying a Program Car a Good Deal

Although there typically aren’t many of them available, executive-driven program cars offer a third viable option for credit-challenged borrowers wishing to finance a used car. Buyers should be sure to verify this with a vehicle history report as well as have any vehicle they’re considering buying inspected by an ASE Certified Master Mechanic as well as a frame specialist. Continue reading

Posted in Used Cars |

Buying a Demo Car

Purchasing a demo car is a great way to save even more on a new vehicle. Just be sure it hasn’t been titled or damaged and that the additional discount for mileage is fair. Continue reading

Posted in New Cars |

Best in Resale New Cars for Credit Challenged Buyers

Borrowers, especially those with past credit issues on tight budgets, should never confuse price with cost. Price is what you pay for a vehicle while cost includes the overall expenses including gas, insurance, maintenance and depreciation. Continue reading

Posted in New Cars |

Newer Cars Stolen Less

In addition to being nearly as affordable due to lender programs and generally having fewer miles, newer used cars are less likely to be stolen and, if they are, more likely to be recovered than older model used cars. Continue reading

Posted in Used Cars |

Government to Further Restrict Military Payday Lenders

The new definition of consumer credit, as it relates to the Military Lending Act, recently proposed by the Department of Defense could go a long way toward protecting members of the U.S. military from predatory lending practices. Continue reading

Posted in Lender Companies |

Cheapest New Cars in October for Problem Credit Buyers

When offered the chance to buy a new car, we suggest credit-challenged buyers pick one that’s affordable, fuel efficient and inexpensive to insure. Consumers who follow this advice, once they’ve reestablished their credit, will be in a much better position for their next loan. Continue reading

Posted in New Cars |

Avoid Online Payday Lenders

Storefront payday loans are bad and online payday loans are even worse. Cash-strapped consumers – especially those with poor credit – should check with banks, credit unions, their church, local charities and even relatives and friends first before turning to a payday lender. Continue reading

Posted in Lender Companies |

Now Is Still A Good Time for Bad Credit Auto Loans

The latest credit trends are a mixed bag for problem credit borrowers. On one hand, lenders continue to work with

credit-challenged borrowers. On the other hand, average loan amounts are escalating, which translates to an increase in the average interest expense of these loans – something that should be avoided. Continue reading

Posted in Lender Companies |
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