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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.

The Pros and Cons to Paying Off Your Car Loan Early

A man holds his car keys out the window of his car while smiling.

The thought of paying off a car loan is naturally alluring. However, at times it actually makes sense to hold off on doing so. Each individual scenario has to be taken into consideration, with your own financial goals, habits, and behaviors factoring into the mix. We’ve gone ahead and gathered some of the most important pros […]

How to Apply for a Car Loan

Car keys, cash, and a pen sit on top of a signed car loan agreement.

Whether you’re a brand new driver in search of your first set of wheels or a seasoned veteran moving on to your second or third vehicle, before you get far into the process you’re going to face the daunting question of how to get a car loan. Figure Out Your Budget When it comes to […]

What Is the Best Way to Save Money For a Car?

Car keys sitting on top of a fanned out series of $100 bills.

Buying a new car is one of the biggest investments you can make, with the average cost being $37,285 in June 2019. Besides the total cash price, there are several other factors that contribute to the overall cost of a car including fees and taxes, financing costs, insurance, maintenance, fuel, and depreciation. In most cases, […]

What Is the Minimum Credit Score for a Car Loan?

Two people sitting at a table with car loan papers and money sitting on top of it. One person is handing the other a set of keys to a car.

Whether you have low credit or no credit, your credit score is essential to buying or financing a car. The good news is that there is no universal minimum credit score needed to obtain a car loan. Ultimately, the credit score you need to get a loan is determined by the lender. There is, however, […]

Can You Use Student Loans to Buy a Car?

Female student in the driver’s seat of a car

Student loan debt has become the second highest consumer debt category in the United States — an epidemic which is only slightly surpassed by mortgage debt. Collectively, there are more than 44 million borrowers in the United States, owing more than $1.5 trillion in student loans. On average, individual students owe nearly $40,000. The student […]

How Many Miles Should a Used Car Have?

Car odometer with high mileage

Why Mileage Matters Mileage might be the single most important thing to look at when purchasing a used car. It can affect the price due the condition of the car, and can be a significant bargaining chip. What’s good mileage on a used car, and how can you turn that into getting a good deal? […]