Auto Finance

What you will need to know about financing a vehicle purchase

Auto loans set record as Americans borrow to pay for new vehicles

Auto loans set record as Americans borrow to pay for new vehicles

More Americans owed more money on their vehicles than ever before – more than $902 billion almost midway through 2014 – but fewer are delinquent in making their payments, reports Equifax, the consumer data collection company. That total represents an…

How to buy a new car with bad credit

How to buy a new car with bad credit

Buying a new car with bad credit isn’t the easiest thing you’ll ever do. Then, again, it’s not impossible, either. “It’s possible to buy a new car with bad credit if you know where to look and how to prepare,” says Edmunds.com…

Few consumer complaints are about auto loans and leases

Few consumer complaints are about auto loans and leases

More than 40,000 consumer complaints were filed within the first two months of 2014, according to the Consumer Financial Protection Bureau (CFPB), record numbers for any one or two-month period during the bureau’s almost three-year lifespan. But if last year’s…

J.D. Power: Long-term loans, leasing gaining popularity among car shoppers

J.D. Power: Long-term loans, leasing gaining popularity among car shoppers

Long-term auto loans and leasing hit record levels in February, according to a J.D. Power analysis of last month’s new-vehicle transactions. “Longer loan terms, coupled with the current low-interest-rate environment, increases the affordability of new vehicles for consumers,” said Thomas…

Auto loans their highest in five years, Equifax reports

Auto loans their highest in five years, Equifax reports

Outstanding auto loans ($859.6 billion) and the total number of existing loans (62.3 million) in December were the highest in more than five years, according to the latest Equifax National Consumer Credit Trends Report. That means automobile lending “continues to…