Archive for the ‘finance’ Category

Car notes, or car loan payments, are the monthly payments made after a car is purchased with a loan from a bank, credit union, or finance company. Some dealers provide financing directly, in which case car notes are made directly to the dealer, but in most cases dealers simply arrange financing with a bank or […]

Your First Car – Making Your Decision Most of us get our first car as teenagers.┬áIt’s the car we’ll always remember. Let’s take a look at some of the important questions you’ll want to consider when deciding about what you’ll buy as your first car, how you’ll pay for it, and how to go about […]

Is it possible to sell a car if you are still making loan payments and the loan is not yet paid off? This is a very common question with car buyers and owners. The answer is yes, you can sell the car, but you must get enough money in the sale to pay off your […]

Who needs a co-signer for a car loan? How does it work? New or first-time car buyers are often surprised at being turned down for a car loan because they have no credit history, which unfortunately has about the same effect as having bad credit. Getting a co-signer might be the answer. Lenders want to […]

About principal and interest If you purchase a new or used car with a loan, you agree to pay off the loan amount (principal) over a specified number of months. But you also agree to pay a finance charge, or interest, for the privilege of using the bank’s (or finance company’s) money for your purchase. […]

How much down payment do I need for my car loan? Until recent times, it was standard for car dealers and finance companies to require at least 20% down payment on the purchase of a car. It was for a good reason. Because cars depreciate in value from the moment they are driven off a […]

We answer questions from first-car buyers almost every day when we participate on the Yahoo! Answers web site in the Car Buying and Selling section. The majority of those questions come from teens and young adults who have little or no experience in buying, trading, or selling cars. In the few years that we’ve been […]