A recent Experian Automotive credit trends study compared vehicle history to loan performance. Here is what it found

With the cost of new vehicles rising every year, most credit-challenged individuals that fill out a bad credit car loan application and get approved will decide that it is much more affordable to raise their credit scores and reestablish their auto credit with a 2 or 3-year-old pre-owned vehicle.

You may have heard the term, Same Day Auto Loan before, but what does it mean? It can accurately describe two different loan scenarios, referring to simply a loan that is approved within 24 hours or a specialized loan for bad credit buyers. This distinction is important to realize as you are shopping around for the right loan to fit your situation.

The good news is that, on average, wholesale prices for compact cars dropped 1.1 percent in December. Manheim explains that the reason for this price drop was consumers moving to CUVs and mid-sized cars.

Picking the right kind of vehicle is one of the most important steps in reestablishing your auto credit once you've received a car loan approval.

It is very difficult getting approved for a car loan on a 10-year-old vehicle with more than 100,000 miles, especially if the buyer has bad credit. Although an older car with higher miles might seem affordable, subprime lenders perceive these vehicles as high risks for breaking down (a real issue especially for a high-performance car like a WRX STI).

Certified pre-owned vehicles have many advantages over new cars. They are more affordable to purchase and to insure when compared to their counterparts.

Car shoppers with less than perfect credit typically choose a used car when it's time to finance.

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.

This past Memorial Day weekend, I was stranded in the Houston airport during the record setting storms that pummeled Texas. The torrential rains and terrible lighting were powerful, but as terrible as these storms were for Texans, the trouble was just beginning. Countless vehicles that were submerged by flood waters are now being labeled salvaged, cleaned up and are beginning to reappear across the country.