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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

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 


 
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 


 
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


 
Dealer

Can You Really Afford That Car? Not If You Live In 24 Of America's 25 Biggest Cities

It's no secret: money is tight. America is still recovering from the trauma of the Great Recession, and although economic indicators seem to be moving in the right direction... read more February 27, 2013 by  2


 
Repo Man

Uh Oh: First Rise In Auto Loan Delinquencies Since 2009

America's economic recovery has been slow but steady. Thanks to improved consumer confidence and slightly looser credit restrictions, individuals and businesses are moving... read more February 22, 2013 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


 
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 


 
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 


 
Polar Charging Post and Nissan Leaf

How Much Will The Feds Lose On Auto Loans? Not As Much As Feared

Over the past three and a half years, the federal government has gotten a lot of flak for offering low-interest loans to automakers, and automakers have gotten a lot of flak... read more February 13, 2012 by  4


 
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