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The Average Car Loan Is Now 5.5 Years (And Growing)

The Average Car Loan Is Now 5.5 Years (And Growing)

Back in July, Equifax revealed that Americans have taken out $902.2 billion in car loans -- an all-time high. But the credit company also told us not to worry, because nearly everyone is paying back those loans on time. In fact, the number of loans in delinquency now hovers near record lows. Then... read more

August 26, 2014 by  -
 
Auto loan

Americans Are Keeping Up On Car Payments Despite Easy Credit

One of the major contributing factors to the Great Recession was the U.S. credit crunch. For years, banks had been loaning money to many people who probably shouldn't have... read more December 18, 2012 by  2


 
Dealer

Car Customers Hate Haggling More Than Anything

Shopping for a car can be a real pain. But according to a new survey, there's one thing that consumers hate above all else: negotiating the price of their new ride. This... read more August 23, 2012 by  3


 
Auto loan

Is It Time To Refinance Your Car Loan?

With interest rates hovering near record-lows, plenty of homeowners have chosen to refinance their mortgages. But auto loans can be refinanced, too -- the only problem being... read more August 1, 2012 by  0


 
2012 Chrysler Town & Country

Chrysler Offers 'No Payments For 90 Days' Summer Promo

Yesterday, we told you about the debut of General Motors' "Chevy Confidence" program, which offers Chevrolet shoppers no-haggle pricing and the opportunity to return their... read more July 11, 2012 by  0


 
Auto loan

Car Loans Are Easier To Find: Should We Be Worried?

A big part of the auto industry's troubles during the Great Recession were tied to the credit crunch. After the banks failed, it became much harder for consumers to secure... read more May 30, 2012 by  0


 
BMW's Ultimate Drive app

BMW Offers $300 Mobile Voucher On New 3 Series…But There’s A Catch

Fancy getting into a new 2012 BMW 3 Series and still want a little extra cash as a motivator? The German automaker is offering a $300 mobile voucher good toward the purchase... read more April 11, 2012 by  0


 
2012 Chevrolet Sonic

Car Sales Surge: Who's Buying & What Are They Getting?

Yesterday, we reported that sales for most automakers hit record levels in March. (Honda was the notable exception, its slipping figures due in part to the underwhelming 2012... read more April 4, 2012 by  1


 
Handing over car keys

Ally Offers Consumers A New Car Loan With Guaranteed Buy-Back Price

At a time when family car buyers are searching for every great deal they can get their hands on, Ally Financial has come up with what may be a very compelling proposition... read more November 1, 2011 by  0


 
Handing over car keys

New Type Of Car Loan Designed To Give Buyers Peace Of Mind

A car loan is a fairly straightforward financial transaction; to buy a new car, you agree to pay a lending institution a monthly amount to cover the principal and interest... read more October 31, 2011 by  2


 
2011 Ford Fiesta

Smart Car Shopping: Knowing Your Credit Score Is Not Enough

Savvy car shoppers--and experts on savvy car shopping--recommend that consumers know their credit score before they walk into a car dealership. Why? To stop dealers from... read more April 13, 2011 by  0


 
2011 Honda Accord Sedan

Better Buy That New Car Now, Warns Edmunds

Just when the economy seems to be ticking ever so slowly up, consumers looking to replace the family buggy with something new have another worry to contend with. Make that... read more April 9, 2011 by  0


 
Sleazy Car Salesman

Feds Host Roundtables, Launch Investigation Into Dealer Practices

With the price of a new car averaging more than $28,000 and the average dealer-sold used car running around $14,000, most vehicle shoppers opt to either finance or lease... read more March 17, 2011 by  5


 
money

Experian: Auto Credit Continuing To Loosen, Loan Amounts Up

To get the vehicle you want, and the right credit terms, having a high credit score has been extremely important over the past couple of years. With credit tight, lots of... read more December 9, 2010 by  0


 
money

Vehicle Affordability Up, Despite Finance Crunch, Lower Incomes

Despite rising costs of financing and falling household income, cars are more affordable than they were this past winter and spring. That's what Comerica Bank found in its... read more November 15, 2010 by  0


 
Car shopping

When Knowing Your Credit Score Is Not Enough

Car buyers are often told that they need to know their credit score prior to walking into a car dealership to buy a vehicle. Readers of this website know that I recommend... read more September 29, 2010 by  0


 
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