Car Buying

Simple Interest Explained Simple Interest Explained

There are a number of advantages to simple interest loans, not the least of which is the ability to pay one off sooner and reduce the interest charges without any penalty. The downside, however, is that additional interest charges and penalties can add up quickly if payments aren't made on time – especially during the first half of the loan.

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Texas Rains and Salvage Titles Texas Rains and Salvage Titles

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.

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Is a Longer Loan Term a Good Idea? Is a Longer Loan Term a Good Idea?

According to Experian Automotive, 27.6% of new car loans in the first half of 2014 ranged from 73 to 84 months. With these longer payment plans becoming a trend, people might begin to think that extended loans are a good idea since it reduces the monthly payment. But is a long loan term the best approach to getting a new car? Not really, and I'll tell you why.

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