Author Archive: Steve Cypher
Understanding Credit Disability Insurance on a Car Loan

Finance managers at car dealerships sometimes refer to it as part of “fully protecting” an auto loan when they speak with borrowers including those with damaged credit. That description is fairly accurate and before making a decision consumers should have a basic understanding of how credit disability insurance works.

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Best Used Cars on Tight Budgets

Back in March Consumer Reports published the results of their latest Annual Auto Survey, which is based on subscriber survey responses covering over a million vehicles. CR’s findings include both the “best used cars” as well as the “worst used cars” in terms of reliability.

Sorting through the results we came up with what we feel are the most affordable used cars in the two most affordable categories for car buyers with less than perfect credit:

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How Child Support is Calculated in a Car Loan

Consumers responsible for making child support payments as well as those who depend on this type of income should know how these situations, especially if they have poor credit, could impact their chances of an auto loan approval.

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Why Not to Buy Here Pay Here

Because they may have been turned down for a conventional car loan and/or they cannot find a franchised new car dealer willing to help them, every year at least some borrowers with problem credit settle for an auto loan from a “tote the note” car lot.

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Truth about Preapproved Auto Loans with Poor Credit

Of particular interest to car buyers with problem credit as well as a question we frequently get asked is whether we can offer them a pre-approval on a car loan.

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Before Getting a Car Loan with Poor Credit

From our experience the results pretty much speak for themselves when consumers with damaged credit allow some time before applying for a car loan to, among other things, check their credit reports and correct any mistakes.

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Spotting a Flood Damaged Car

It’s an unfortunate fact but consumers with damaged credit are far more likely to find themselves with an auto loan for a vehicle that has been involved in a flood.

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