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Interest rates have seen many changes over the past several years. While interest rates have started to decline in many cases, thanks to an improving economy last fall, those improvements may not last. For the third quarter of 2025, the rates are still down from a year ago, albeit slightly. Here, we'll...

While there is no set minimum credit score you need to purchase a car, your credit score will matter if you need to take out a loan. Lenders tend to appreciate borrowers with higher scores since they typically have a proven track record of managing their credit well, as reflected by their credit score...

The average car loan amount in the U.S. has been on the rise since new vehicles tend to get more expensive as time goes on. More expensive new vehicles typically lead to more expensive used cars, and everything rises. Right now, both new and used car loan amounts are growing. Here's what we know about...

Negative equity is one of the hardest situations to find yourself in when it comes to buying a car, especially a new one. This is also called being upside down, or underwater on your loan. New vehicles tend to lose the most value as soon as you drive them off the lot, and typically, the value continues...

APRs and interest rates differ slightly, and using the right one means you can accurately calculate what you'll be spending on your auto loan this year. What Are APR and Interest Rates? The APR, or annual percentage rate, and interest rates, are both numbers associated with your loan, shown as a percentage...

Manufacturer incentives can play a big role in determining how much car you can afford. If you have bad credit, it may help to consider cars with rebates and other programs that can help lower the amount you'll have to finance. We'll cover some common types of car rebates and how they work. The difficulty...

Your loan term is an important part of the auto loan equation. The longer you take on a loan for the smaller your monthly payments are likely to be, but you also pay more in interest charges. It may not be as easy to make smaller payments for longer as you might think. Typically, car loan terms come...

Vehicles are depreciating assets, which means they lose value over time and with use. It's important to know about the depreciation your vehicle may face, because it impacts the value of your car that you can use as a trade-in, or the amount you can sell your car for. Depreciation can't be stopped, but...

Income is very important to the auto loan process, especially if you have bad credit. Lenders need to verify that you have steady income from an approved source. Most taxable and consistent income can be used as an income source for a car loan, but there are some exceptions. Additionally, each type of...

In the debate over buying versus leasing a car, there’s no universal winner. Ultimately, many factors influence the decision, and the ideal option is usually the one that best suits your lifestyle. Leasing and buying both allow you to finance a vehicle, but the similarities end there. In terms of affordability,...