Car Loans & Financing

At the beginning of the automotive era, a vehicle’s chassis was no more than a skeleton that supported the rest of the components. Times have certainly changed. Today’s car frames are…

Knowing the gross cost of a product or service can save you money. The gross cost includes the cost of product or service itself, along with any other costs incurred in the purchase process. The term…

The idea you should warm up your car before driving in really cold weather is so ubiquitous, it almost seems like an urban legend. In fact, until the mid-1980s, it was beneficial. Today’s gas…

There is a large difference between not having an employer and not having an income. People without employers can be contractors, entertainers, salespeople, consultants and retirees. Others may have…

When a lender tries to repossess a car, he's exercising his rights under a legal document known as a lien. When a lender provides money for a car purchase, there is a possibility that the borrower may…

The air pump operates for a short period of time upon starting your vehicle to introduce air into your vehicle's emissions. While a bad air pump may not have a negative impact on the overall…

When you default on a vehicle loan, the lender may repossess the vehicle by force to recover the debt. Some borrowers may request that the lender repossess the vehicle when they fall behind in…

In order for a business to carry out its activities satisfactorily, the business needs resources to facilitate this. The resources the business uses to generate revenues are known as assets. Examples…

If you work in a position that requires frequent use of your vehicle, such as route sales or field service work, your employer may provide you with mileage reimbursement or a car allowance. Both…

Repossession has significant consequences. If your vehicle was recently repossessed and you paid the lender to get the car back, it will repossess the vehicle a second time if you stop making…

Many consumers believe that a car payment is a necessity, especially considering the high prices of automobiles and the lack of cash reserves to pay for transportation. When you are at the car…

Marrying someone in the military means getting used to uncertainty. Not just uncertainty about your spouse's safety but about her financial affairs as well. Congress passed a law that helps diminish…

If you are unable to make payments to your lender after a repossession, a court judgment likely entitles the lender to collect the balance due on the loan. While your lender may still accept a payment…

If you need to buy a vehicle for your business, buying a used vehicle with a lien can save you money. When a consumer finances a vehicle purchase through a loan, the lender places a lien against the…

While you may have agreed to stay in your rental throughout the term by signing a lease, things do come up; maybe you found a house to buy, or your job has plans to move you to another state. If you…

Some financial websites regularly publish average interest rates for the various types of debts, including auto loan interest rates, to keep the public updated. Check on these averages to see if the…

If you die before your car loan has been paid off, your estate must settle the debt with the lender. If your estate doesn't have any money to pay back the loan, the creditor is generally out of luck…

An auto loan maturity date is a date when the loan balance is paid off if a borrower makes payments according to the schedule. However, when an auto loan matures, it does not necessarily mean that it…

Your payment history and lines of credit, such as car loans or credit cards, are reported to the credit bureaus and affect your credit score. Late payments occurring before repossession are reported…

If you are looking to buy out your automobile lease, you might need a new loan. A vehicle lease buyout is a predetermined buyout price agreed upon at the signing of the lease that allows the lessee to…

Buying a rental house or apartment building can result in the need to raise the rents to market rates. If you purchased the property with the knowledge that the rent is low, you may be eager to…

Depreciation is a tax concept that provides taxpayers the ability to take a deduction for the depreciation of property utilized for business purposes, which means that taxpayers can recover the cost…

Sometimes what seems like a good deal really is not. For example, you may have negotiated a good price for a new vehicle, but due to financing charges and interest, the true cost might be much higher…

When a lender seizes your vehicle for nonpayment, you might be offered an opportunity to purchase it back. If you don't, the lender resells the car and bills you for the amount due on the loan. Even…

The biggest risk of co-signing a loan is the possibility of credit damages caused by late payments or repossession. As a co-signer, you're equally as responsible for the auto loan payments as the…

The fact that your car has been repossessed does not mean that your problems are over. When a company repossesses your car, the company is likely to end up pursuing you for more than just back…

Leasing a car can often be a way to afford a car that you would otherwise not be able to get. When the owner of a car lease passes away, the executor of the estate must figure out what to do with the…

Approximately 1.6 million vehicles are repossessed yearly in the United States, according to a 2009 CBS News report. Repossessions are typically ordered by banks and loan companies when an individual…

Nevada state laws do not regulate grace periods for car loans. Typically, a grace period entitles the borrower to be 10 to 15 days late making a payment without having to pay a late fee. The…

People with financial difficulties sometimes turn to car title loans as a quick source of cash. While these loans may seem appealing, they can quickly turn bad and leave you worse off than before. If…

If you use your vehicle for business purposes can claim a valuable deduction for it's use on your federal tax return. The car must be owned or leased in order to qualify for the deduction. The method…

Most lenders don't repossess a vehicle until car payments are significantly past due, often 60 days or more. Once your payments are reported as late and unpaid to the credit bureaus, it becomes…

When your bills become too much to handle, you face the possibility of losing your property or filing for bankruptcy. While both options are legitimate and could rectify the issue, one may be better…

Borrowers with bad credit score sometimes assume that having a cosigner for their auto loan automatically qualifies them for an account. However, even if your cosigner has great credit, the lender may…

When you enter into a lease agreement to rent a house or apartment, your part, as the renter, is to pay the rent on time and to abide by the provisions of the lease agreement. If you fall behind on…

Any account delinquencies can have a negative effect on your credit report. However, auto loan delinquency can be particularly problematic, because it’s a secured debt. Unsecured debt, such as…

Paying your bills on time, disputing negative or inaccurate information on your credit report and keeping your account balances low -- all these ideas can potentially raise your credit score. Simply…

After you return your vehicle to a dealership, the leasing bank takes the vehicle from the dealer. Once the bank receives the vehicle, it inspects the mileage, as well as checking for excessive…

Negative equity might impact your car loan's overall interest charges. You'll pay more for your vehicle loan if you add excess money to the total loan amount. Lenders increase interest rates for…

Leasing the vehicles you will use for your business, as opposed to purchasing them, offers both advantages as well drawbacks. Commercial leases may result in tax savings over the short and…

Lenders require borrowers to have cosigners if they are not creditworthy on their own. The cosigner offers the lender some security by agreeing to be held responsible for repaying the debt if the…

Every time your car goes over a bump or other irregularity in the road, it is the struts that absorb the impact and make for a comfortable ride. Struts are comprised of the springs, spring seat,…

The term "lease residual value" describes a car's bank-determined future market value or purchase price at the end of a lease term. The residual value, expressed as a decimal, is a…

If someone co-signed an auto loan with you, it means that your bankruptcy could leave that person 100 percent responsible for the debt. This is true in spite of the fact that your co-signer likely…

The amount of negative equity a borrower can roll over into a used car loan differs by individual credit history and lender-determined vehicle value. Some borrowers might be able to roll over…

Car loans make it easier to purchase an automobile. Financial institutions offer a wide variety of loan terms, depending upon your circumstances. When you get a car loan, the automobile is used as…

Car title lenders offer quick, easy-approval loans using a borrower's vehicle as collateral. Loan amounts are based on a fraction of the car's resale value. Expect to leave your title, spare keys and…

In business accounting, depreciation is a means of expensing the value of a major asset purchase over time. There are various ways to account for depreciation, but among the most popular is…

A lien on an asset gives the creditor that holds the lien a security interest in the asset. For example, if you finance a new car purchase, your lender places a lien on the car. The lien gives the…

When you file for Chapter 7 bankruptcy protection, you may face the decision of what to do with a vehicle for which you still owe money. One possibility is to continue to repay your loan under the…