Archive for the ‘finance’ Category

Everyone buying a new car wants to get a bargain and a great deal. So where can those deals be found? Although we’ll be primarily discussing brand new cars here, we can make some comments on used cars, if that’s the direction you think you want to go. Used Car Deals Finding a great deal […]

Is it possible to get a car loan and buy a car with no credit? The answer? Yes, under some conditions. Let’s explain. It is a common situation, especially with young people who have never had a loan, never had credit cards, or never borrowed money for a car. Without a history of prior loans […]

Although we’ve discussed this topic previously (see Lease vs Buy), there is one aspect that we haven’t discussed and continue to hear questions about. The question is essentially this: “If a car dealer is offering a special promotional lease deal, a purchase rebate, and a low interest loan on the car I want, which one is […]

When you buy a car with a loan, you not only pay back the amount borrowed but you also pay finance charges (interest).  Each month’s loan payment consists partly of principle and partly of interest. Actually, the amount of principle and interest changes each month, although the total remains the same. In the beginning, you […]

Buy-here-pay-here car dealers provide auto loans to people with bad credit. Most car dealers do not directly finance loans on cars they sell. They work with outside banks and finance companies to provide loans for their customers. It’s up to those banks and finance companies, not the dealer, to approve and provide customers car loans. However, […]

Leasing can provide an affordable option to anyone needing car financing at minimum monthly cost. Upfront cost can also be minimized by paying no money down — $0 down payment. Lease payments are 60% – 110% lower than loan payments for the same car. And most leases can be obtained with zero money down— $0 […]

Used cars are for sale everywhere but many people find it difficult to find just the right car for the right price.  It can be frustrating and even overwhelming. First-time buyers, in particular, often have difficulty with the various stages of the process: buying, pricing, negotiating, applying for loans, registering, and getting insurance. What seems […]

A Car Loan Story David, 17, recently graduated from high school, landed a good paying job, and wanted to buy a new car. His thought was that he would go to his neighborhood Ford dealer where he had been admiring a bright red Focus model that he felt he could afford, and arrange for a […]

Car manufacturers offer special sales incentives every month on particular vehicle makes, models, and styles. Incentives vary from month to month. Incentives come in the form of direct-to-customer rebates, special lease deals, and low-interest loans, including 0% APR loan deals. See Best Car Deals for current new-car incentives, including 0% loans. Zero percent financing, when […]

What will my car payment be for a particular car at a particular price? If you are buying a car with a loan, you may wonder how much you’ll pay each month for that loan. It’s not quite as simple as dividing the loan amount by the number of months of the loan. That’s because […]

Refinancing your car loan can often lower your monthly payments. Auto loan interest rates are hovering at the lowest rates seen in many years. If you are currently paying a high rate, you may be able to benefit by refinancing at a lower rate. Depending on the value of your car and the amount you […]

How do I buy a car from an individual private seller — not a dealer? When you buy a car from an individual, you pay with cash, a money order, or a bank cashiers check. The money can come from savings, a checking account, a family loan, or a loan from a bank or financial […]

How Are Car Payments Calculated? Car payments are based on how much you borrow, the interest rate, and the length of the loan. The more you borrow, the higher the payments. The higher the interest rate, the higher the payments. The longer the loan, the lower the payments. Unfortunately, the formula for calculating monthly car […]

If you still owe more on your loan than your car is worth, you are upside down. You may still be able to buy another car if you are upside down on your previous loan. There are two ways to go about it. One way to buy with an upside down loan You could sell […]

Figuring car payments is easy if you have the right calculator — it’s not easy math otherwise Car payment calculation is not simple math. It requires a rather complex business math formula that is not easily done by hand and most people are not capable, or not willing, to take it on. It’s not as simple […]

We have been an expert participant on the Yahoo! Answers web site for many years, particularly in the Cars and Transportation section, Buying & Selling sub-section. We answer questions and provide advice about a wide variety of topics related to automobile buying, selling, insurance, maintenance, and car brands. Although the Answers site is open to anyone, […]

There are essentially two ways to buy a car. You can pay cash, or if you don’t have the necessary cash, you can get a loan. Actually there’s another way — leasing — that we won’t discuss here, but is discussed in a number of other articles on this web site. When you get a […]

Uninformed automotive consumers often confuse car leasing and car renting. They sometimes think the two are the same. They would be very wrong. The confusion is somewhat understandable because of the similarity of terms to that of apartment leasing and renting. Many of us can remember our parents telling us that renting or leasing an […]

Car manufacturers are constantly offering low-interest loans and other incentives to help sell cars. With “normal” interest rates around 3.0% at the time of this writing, it’s not much of a stretch for car companies to offer 1.9%, 0.9%, or even 0% loan rates. A zero-percent (0%) loan means no interest at all — no finance […]

You, the car buyer, wish to purchase a car but you don’t have the necessary cash. You need a car loan. A bank or credit union can provide you the loan you need, or your car dealer can arrange the loan for you with a bank or finance company that he works with. Understand that […]