Category: Finances

They Can Make or Break a Car Deal

Smart car shoppers do their homework before setting foot in a dealership. They research makes and models, read the expert reviews on Edmunds, and know what vehicle they want before talking to a salesperson.

And of course almost everyone realizes that a car dealer or lending institution will want to evaluate a potential buyer’s credit report before agreeing to a loan or lease. But sometimes even the most savvy consumers don’t really understand the specifics of what goes into that report, even though it may determine whether they drive away with the car of their dreams.

Since credit reports and credit scores are so closely intertwined, there’s often confusion about what each is and how each is used.

A credit report is a record of your current and past interactions with lenders and others with whom you’ve had financial dealings. The parties can include banks, finance companies, [...]

It’s possible to avoid a repo if you follow these steps

Maybe you’ve had a massive, negative life change. Or perhaps you’re just struggling with personal finances. Whatever the reason, you’re afraid of falling behind on your car payments and maybe even defaulting on your loan altogether.

If you find yourself saddled with a monthly car payment that you can no longer afford, don’t panic. You have some options.

Communication with your lender is vital and can be the difference between keeping your car and having it repossessed. Don’t hesitate; take action immediately to head off a real crisis point. You might find that the lender has an auto loan hardship program and will be able to provide a solution.

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