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New York City Wants To Make Car Loans More Transparent & Eliminate Dealer Markups

New York City Wants To Make Car Loans More Transparent & Eliminate Dealer Markups

Earlier today, we reported that the Department of Justice had launched an investigation of U.S. auto lending practices. Specifically, the DOJ is concerned that minority borrowers are being offered loans with higher interest rates than those presented to their white peers. Auto News reports that New... read more

April 2, 2015 by  -
 
The impact of credit scores on loan offers (via LendingTree)

Your Credit Score & Your Auto Loan: 4 Things You Can Do To Get A Better Interest Rate

Have you been thinking about buying a car? Whether you're in the market for a brand new ride or something slightly used, now could be a good time to act. If you're a new-car... read more October 27, 2014 by 


 
Repo Man

New Remote Kill Switches Make Repo Men Smarter -- And Deadlier

When last we spoke of repo (wo)men, we spoke of how they're using license plate readers to find folks who are late on loan repayments. (As if stalking people on Facebook... read more September 29, 2014 by 


 
Auto loan

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... read more August 26, 2014 by 


 
Auto loan

Breathe Easy: Feds Say There's No Subprime Bubble In Auto Loans

Car sales are booming, and banks are doing brisk business in auto loans, especially subprime loans for borrowers with poor credit or no credit at all. That has many analysts... read more August 11, 2014 by 


 
Money and car keys

Car Prices Are Growing Faster Than Our Salaries, But We've Got New Ways Of Nabbing Bargains

If you're a new car shopper, we have good news and bad news. How's about we start with the bad news first? Car prices are creeping up faster than household income -- and they... read more August 8, 2014 by 


 
Auto loan

Americans Owe $902.2 Billion In Car Loans, A Record High (And Most Are Re-paying On Time)

According to consumer credit reporting agency Equifax, Americans now owe a staggering $902.2 billion in auto loans -- a 10 percent increase from this time last year and an... read more July 25, 2014 by 


 
Auto loan

Ally Pays $98 Million To Settle Racial-Bias Lending Probe: Will This Simplify Your Next Auto Loan?

The Consumer Financial Protection Bureau recently investigated auto lender Ally Financial amid concerns that the company regularly charged higher interest rates to non-white... read more December 23, 2013 by 


 
Handing over car keys

Auto Loan Interest Rates Hit All-Time Low, Amounts Financed Meet 2008 Highs

There's good news and bad news on the automotive front. The good news is for auto shoppers: according to Experian Automotive, the average interest rate for U.S. car loans... read more December 9, 2013 by 


 
Auto loan

Buying A Car Today? Go Prepared, Or Prepare To Spend Extra: UPDATED

UPDATE: See below In America, auto sales are going strong, and as we mentioned earlier, they're poised to get even stronger this weekend. But if you're one of the many folks... read more November 29, 2013 by 


 
Best & worst states for financing a new car (July 2013)

Michigan Offers Cheapest Auto Loans, Rhode Island Is Most Expensive:

Yesterday, we told you how all 50 states rank when it comes to the cost of car ownership. Now, the folks at GoBankingRates.com have published a related set of rankings, based... read more August 22, 2013 by  1


 
Repo Man

Repo Man Finds Himself Out Of A Job As More Pay Car Loans

Though America's economic recovery seemed iffy at one time, it now appears that we're on the right track. Consumer confidence is mostly high, stocks are mostly up, and though... read more August 19, 2013 by  0


 
U.S. Capitol

GOP: Forest Fires Trump Fuel-Efficient Cars

Late in the administration of President George W. Bush, Congress created the Advanced Technology Vehicle Manufacturing loan program. According to Detroit News, some of the... read more July 23, 2013 by  1


 
Gavel. Image: Brian Turner

Feds Order U.S. Bank To Refund $6.5 Million From Deceptive Car Loans

After all the crashes, mergers, and investigations that bankers have endured the past few years, you'd think they might've learned a thing or two. Apparently, you'd be wrong... read more June 28, 2013 by  3


 
John McDole shows off his Volt's gun rack.

Shotguns For Downpayments? We May Be In For Another Subprime Problem

Earlier this week, we offered a rundown on auto sales for March. While we were very happy to see a number of manufacturers set new records, we were a little concerned that... read more April 5, 2013 by  0


 
Auto loan

Are America's Auto Lenders Discriminating Against Minorities?

In 1974, the United States enacted the Equal Credit Opportunity Act, which "prohibits credit discrimination on the basis of race, color, religion, national origin, sex... read more March 26, 2013 by  2


 

 
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