Along with buying a home, buying a car – new or used – is one of the most important decisions a consumer will make. For many people, a vehicle isn’t just a means of convenience or transportation, it’s often an essential component for their livelihood. Finding the right car that fits your lifestyle, be it [...]
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Daily Expert Tips - Cars, Auto loans, Buying a used vehicle, Credit scores.
Tips for a Better Credit Score
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 [...]
Car Loan Approval after Bankruptcy
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 [...]
Car Loan Credit Crunch at Canadian Car Dealers
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 [...]
When you owe more on your car than it’s worth
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 [...]