Experian’s latest report shows that subprime auto loans have reached a 10-year record low for the first three months of a year.
The latest findings from Experian continue to show that auto loan terms are getting longer, which is a concerning trend.
Your interest rate on an auto loan plays a big role in determining how much you end up paying. Therefore, understanding how yours is determined and how auto loan interest rates work in general is important.
The latest report from TransUnion revealed that subprime loan originations have dropped big time compared to a year earlier. So, what does this mean if you are a borrower with bad credit who needs a car?
Black Book, a used vehicle valuation guide, conducted a survey and found that there is a disconnect between dealership trade-in appraisals and what consumers find their car to be worth online.
Do you need a driver’s license to buy a car? The short answer is that in most cases you don’t, but unless you pay cash you won’t be able to get it on the road.
Sometimes, a lender determines that your income and/or credit situation just isn’t enough to approve your auto loan application. But they may be willing to approve you if you get a cosigner. However, there are risks associated with using a cosigner, and it may be best to avoid the arrangement.