Income requirements for an auto loan can feel like a black box. Lenders are happy to take your data and plug it in, but aren’t always clear what matters to be approved. Today we look at how you make your money matters.
While new car leasing and lease to own car financing may sound very similar, there are major differences between them including potential vehicle ownership, credit checks, down payments, the types of vehicles involved as well as maintenance costs.
The latest credit union report from TransUnion has some good news and some bad news for consumers with less than perfect credit. The good news is that they plan on increasing the number of car loans they offer. The bad news is that they also plan on keeping their risk levels low. But despite the mixed results, we still believe even buyers with credit problems should first explore the possibility of a car loan with their credit union before checking out other lenders.
Confused about what exactly rent to own car programs are? At their core, rent to own car programs are just another form of auto loan, although they are generally easier to qualify for since most dealers don’t run a credit check on renters.
Base assignments, deployment, your credit & available down payment, there are many factors to consider when it comes to leasing or buying a car in the military. What makes the right choice?
If you are trying to go through a traditional auto loan lender who doesn’t work with subprime customers, how challenging will the process be?
Plan to pay for your next car with cash instead of financing? Why you’d be wise to play your hand close to the vest.