As a borrower, you have three key repossession rights, and it's important to know what they are when you're in this situation. If your vehicle is repossessed by your lender, you can try to reinstate the loan, redeem the car, or buy back your vehicle. Here's what else to know about the process. 3 Things...

It can take between two and six weeks for your car’s title to arrive in the mail after you complete your loan. In most states, the title goes to the lienholder during your loan, but a handful of states send the title to the driver right away. Depending on where you live, you may not get your title...

Missing even one auto loan payment can bring the repo man knocking at your door. While lenders commonly wait until a payment is 60 or 90 days late, once you default on an auto loan, you risk having your car repossessed. No set amount of time dictates how long the repossession process takes. Repossession...

Returning your car to a lender before paying off your loan is commonly known as a voluntary repossession or voluntary surrender. Often, borrowers make this decision because they are struggling to keep up with monthly payments and want to avoid involuntary repossession, which can be stressful. What...

If you are unable to afford your car payment, calling your lender immediately is imperative. From deferment to refinancing, options exist to help you get back on track, and taking action as soon as possible is key. Lender-Based Options If You Can't Afford Your Car Loan Payments You can work with your...

Average down payments for new-car purchases have fluctuated over the last four years. In the first quarter of 2026, the average down payment for new-car purchases was $6,206 and for used cars was $3,993, according to Edmunds. Still, the amount you're required to use as a down payment can vary. Your down...

Debt in any form is scary enough, but a menacing financial monster is being spawned lately: phantom debt. The rapid rise of Buy Now Pay Later (BNPL) practices is spurring this one. While phantom debt isn't a new concept, economists are redefining the term in the age of BNPL. Here we'll explore the implications...

When getting a car loan, the average credit score you need can vary, though it's easier to secure a loan if you have good credit, which falls around the 670 mark on the FICO credit score range. The average credit score for borrowers financing a vehicle has been rising over the past several years, and...

Interest rate cuts at the federal level in late 2025 are projected to ease costs for borrowers this year. However, the average price of new vehicles reached new heights in December 2025, and used vehicle prices are on the rise, too. Additionally, more than a quarter (29.3%) of trade-ins toward new-vehicle...

Federal interest rate cuts in late 2025, aimed at bolstering the economy, have eased costs for some auto loan borrowers in 2026. Lenders remain cautious as economic uncertainty and regulatory changes continue, which is why it’s important to understand and compare your lender options. There are typically...