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Auto Loan with 680 Credit Score

Getting an auto loan with a 680 credit score is fairly easy in today’s loan market, but you will not be offered the most favorable terms possible. In this article we are going to look at potential places to find the auto loan that you need, how you can improve your chances of getting your […]

What Bubble? Smaller Volume of Auto Loans Coming from the Subprime Market

Automotive industry commentators have long feared a “bubble” in car sales, in which every consumer can drive off the lot with a car, no matter how bad his or her credit happens to be. Recent findings by Experian Automotive overturn that assumption, however. In fact, subprime and deep subprime car loans, those loans made to […]

Auto Loans with 640 Credit Score: What to Know

A 640 credit score is generally termed “subprime.” This generally encompasses credit scores from 620-680, with lower scores dubbed “bad credit” and higher scores “prime.” During the recession that ended in 2012, getting an auto loan with a 640 credit score would have been nearly impossible. Fast forward to 2015 and lenders have loosened their […]

Can You Get a Car Loan without a Social Security Number (SSN)?

The question ”Can You Get a Car Loan without a Social Security Number (SSN)” is a tad vague. It does not mention whether the person is an illegal alien or a documented worker with a temporary visa, etc. Despite the vagueness of the question, lets have a look at the possibility of getting a car […]

What Banks Do Subprime Auto Loans?

Statistics from Bankrate.com show that the number of subprime auto loans is on the rise. That is great news for many Americans who’s credit score may not have fully recovered from the financial meltdown that began in 2008. We are going to list five lenders that are offering subprime auto loans, then have a look […]

CFPB Auto Lender Complaints: Now Viewable at AFN!

Auto Finance News, the industry’s leading publication, has recently announced a new offering that will turn heads of industry executives and consumers alike:  the company has accessed, sorted, and published the information contained in the complaints database of the CFPB (Consumer Financial Protection Bureau). This allows everyone, from C-level execs at leading banks and lenders […]

Car Loans with ITIN Numbers: What to Know

It is possible for illegal immigrants to get a car loan through an IRS technicality. The IRS requires that everyone pay taxes, even if they are illegal immigrants. The IRS is required by law to provide a way for illegal immigrants to pay those taxes without a social security number. The solution is called an […]

Auto Finance Industry’s Growth Faces Challenges in 2014

All in all, it appears that 2013 was a year of major growth in the auto finance field. Originations grew by 30%, and Loans/Lease products grew by 14% among the top 100 financial institutions. Marcie Belles, Vice President of Auto-Finance at Auto Finance Advisors, speculates that 2014’s growth will be challenged by tough competition and […]

Is it Dumb to Buy a New Car?

Saying that buying a new car is dumb may be a little harsh. Buying a new car has its good points and bad. Let’s have a look at both. Reasons to Buy a New Car Bad/no credit…Often specialty lenders will only offer loans to bad credit/no credit customers if they purchase a new car. Even […]

What is Yo-Yo Financing?

Yo-yo financing is a fairly recent quasi-scam. It is more common with dealerships dealing with low credit scores and only when you opt for dealership arranged financing. It also goes by the name “spot-delivery.” The Basics of a “Yo-Yo” Scam Many dealerships are advertising financing for any credit score. These dealerships have a network of […]