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Category: Car and Auto Loans

Cars are an essential part of most people’s everyday lives, and represent significant investment. Purchasing and owning a car is not only exciting, but potentially stressful too.

Before showing up at the car dealership to haggle with a salesperson, you should research some background information about car and auto loans. Who approves car loans, and how can you shop around for the best deal? Can car loans be refinanced, and how should you protect your credit score when purchasing a new or used car?

In this section you can find more information on car or auto loans, as well as some tips and tricks to getting the best deal. These articles cover subjects such as upside down car loans, trading in cars, car liens, using existing loans to purchase a car, and even methods for paying off your car loan faster.

What Is Car Loan Interest and How Do I Calculate it?

A blue market underlines the words "fully amortized loan" on an auto loan contract.

To understand a car loan’s interest rate, you must first understand what interest is. Any time you take out a loan, you have to pay back the amount you borrowed with interest. Interest is a fee that the financial institution you borrow from charges for using their money to buy big-ticket items such as cars. […]

When Is the Best Time To Buy a Car?

A couple speaking to a car salesman about buying a car.

If you’re in the market for a new vehicle, you’ve probably started to consider the type of car and capabilities you want. As with any big purchase, you’ve probably also considered your budget. For some individuals, saving up money to buy a car can be difficult. Fortunately, there are times when you can buy a car at […]

How To Lease a Car With No Credit Score

A graphic of an approved stamp on a car loan.

From commuting to work to running errands, having a vehicle of your own can simplify your life. If you’re not interested in owning a car long term, leasing is a great option. A down payment and monthly installments allow you to lease a car for a set period of time. When the lease is up, […]

What Is the Average Car Loan Interest Rate?

Keys sit on top of a car loan document that is being signed by a man.

When you borrow money to purchase a vehicle, the lender typically charges interest for that privilege. Although you might be able to score a car loan with 0% interest for a certain period of time, most lenders do tack on interest charges at rates that can vary wildly based on where you purchase the car […]

When Should I Refinance My Car?

A refinancing contract is rubber stamped as "approved."

For many people, owning a car is a necessary part of everyday life. From commuting to work to running errands, picking children up, or getting friends and family to doctor’s appointments, there’s no doubt that owning a vehicle makes life a whole lot simpler. If you’re fortunate enough to own your own vehicle, you may […]

Buying a Car When You Have Student Loans: Tips and Things to Know

A student receiving the keys to the car he just bought from a car salesman.

When it comes to transportation, having a car is a must for most Americans. Chances are you’re going to need a car before your student loan debt is paid off, too. If you find yourself trying to purchase a car while you’re saddled with student loan payments, go into the situation both informed and thoroughly […]