Informa Research Services, a rate tracking company, recently released the results of a study showing that the average interest rates on indirect car loans are very nearly identical at credit unions and banks. This is somewhat contrary to popular belief. Here are how their interest rates stack up. 5 year new auto loan: Credit Union [...]
Filed under Auto Loan Industry by on Jun 1st, 2011. Comment. 
No matter how bad the taste in your mouth is after you say sub-prime lending, America needs to see a higher number of people with risky credit getting second chance loans. No one bumped their head before writing this article. Here is why a surge in sub-prime loans will fuel the economy in the short [...]
Filed under Auto Loan Industry, Credit Scoring by on May 31st, 2011. Comment.
Image via Wikipedia Earlier this week Chrysler wired a little less than $6 billion to the United States government. The automaker has repaid $6.7 billion in loans over the last two years in addition to $1.8 million in fees and interest. The interest rate on these Chrysler car loans prompted the automaker to pay off [...]
Filed under Auto Loan Industry by on May 27th, 2011. Comment.
Many people shop for a car by going to the dealer first. They allow the dealer to run their credit and get their financing arranged for them. The non-profit Center for Responsible Lending compiled a report after looking at 25 auto finance companies with a combined 1.7 million accounts. That report shows that dealerships often [...]
Filed under Auto Loan Industry, Car Shopping Tips by on May 10th, 2011. Comment.
According to a survey released by the Federal Reserve, car loans are easier to get than they have been at any time in the last 17 years. Does that mean that they are practically falling out of the sky? Maybe not that easy, but banks have become willing to make lower interest loans and with [...]
Filed under Auto Loan Industry by on May 9th, 2011. Comment.
Does it seem like you see your vehicle at every intersection? It is possible that you do see a similar vehicle quite frequently if you buy one of those in this list of the top selling vehicles in April 2011. Ford F-Series Toyota Camry Honda Accord Chevrolet Silverado Honda Civic Chevrolet Cruze Chevrolet Malibu Toyota [...]
Filed under Auto Loan Industry, Car Shopping Tips by on May 6th, 2011. Comment.
It can be difficult to get a car loan even with good credit if all or part of your income is from a disability or SSI. Your chances can go be nearly nonexistent with bad credit. It is so difficult because your disability or SSI income cannot be garnished. There are two situations that will [...]
Filed under Auto Loan Industry by on May 6th, 2011. Comment.
An auto loan becomes upside down the instant you drive a new car off of the lot. Some cars lose 20% of their value instantly. All cars depreciate for the first 25 years or so. If you take out a loan for an extended period of time, the payments may not catch up to the [...]
Filed under Auto Loan Industry by on May 5th, 2011. Comment.
Large national banks are easing their lending requirements, making it easier for average consumers and businesses alike to acquire financing, but there are not enough borrowers to go around. Mortgage loans are down and small businesses are avoiding taking on new debt. It is a cycle that has been unseen in decades. The majority of [...]
Filed under Auto Loan Industry by on May 3rd, 2011. Comment.
Audi is a brand equated with quality, luxury, and performance the world over. That reputation has led to a steady increase in sales over the years. Increased sales is never a thing that you will hear an automaker complain about…unless you talk to Audi management. Increased sales coupled with custom orders that account for 31% [...]
Filed under Auto Loan Industry, Car Shopping Tips by on May 3rd, 2011. Comment.
