Auto Loan Tips

For many traditional lenders, banks and credit unions included, the word ‘credit’ has become a dirty word.  One need only read the paper to realize that banks are lowering credit limits, scrutinizing potential new customers and tightening standards for extending credit. The result?  Traditional lenders denying credit to those with less than perfect credit. There are ways [...]

Bad Credit related financial history caused by a Bankruptcy could lead to problems for individuals seeking loan approval for new or used cars.  The main problem with bankruptcy declarations is that this negative history may stay on your credit record for up to 7 years.  Acquiring new or used car loan credit from major lending [...]

A study conducted by J.D. Power and Associates between February and May of 2009 reported that close to 70% of GM, Ford and Chrysler dealers in Canada, and more than 50% of Asian auto-based dealers in Canada, experienced a drop in auto credit approvals for their customers over the past year.  The study was based [...]

Owing more on your car than it’s worth is referred to as an “upside down” car.  And considering the state of the economy and the auto industry, there are literally thousands of “upside down” cars on the road today.  In a nutshell, these are cars whose value is worth less than the amount still left [...]

Thinking of trading in your current vehicle for a new vehicle? If so, the trade-in value may not be what you think. According to a J.D. Power & Associates estimate, falling used vehicle prices have erased millions of potential buyers from the new vehicle market as they struggle with loan balances far exceeding the value [...]

Thinking of buying a car?  Worried about the economy but still need to get around?  Think Used – car that is. It’s all in how you how look at things.  For example, is the gas tank half full or half empty?  In the case of those looking for a used car in 2009, things look rosy.  Why, you may [...]