NewBuyer Blog » Auto Loan

Glossary of Auto Loan Terms

NewBuyer — Mon, 21 Dec 2009 15:00:09 +0000

One of our favorite glossaries of car loan terms. Search the glossary by letter to learn the definition of common terms such as creditor, appraisal fee, assumption, sticker price, asset and more.

From the resource: “Shopping is always easier when you know what you’re buying. Automotive.com’s auto loan glossary can help you cut through the cornucopia of terms out there. Reading through this will endow you with such comprehensive coverage of terminology that you’ll never be liable again.”

Source: Automotive.com

Read More About Auto Financing at Newbuyer.com

Should I Borrow from a Car Dealer or a Bank to Buy a New Car?

NewBuyer — Sun, 20 Dec 2009 04:10:30 +0000

A helpful look at dealer financing and how it compares to getting a car loan from a bank. From the Resource: “Deals for low or even zero per cent financing on your new car sound really good. Are they for real? The answer is sometimes “yes,” sometimes “no.”

Source: Investor Education Fund

Read More About Where to Get an Auto Loan at Newbuyer.com

Auto Loan Center

NewBuyer — Tue, 15 Dec 2009 14:00:12 +0000

An exceptional way to obtain current (and local) auto loan rates. Enter your loan type, state and city. A chart will be displayed with available loans in your area. Results can be sorted in any of the following ways: financial institution name, base rate, fees, loan-to-value percentage and loan amount. Although you may not be interested in the exact loans and institutions presented, this tool is a great way to get a snapshot of current auto loan rates available to you.

Source: MSN Money

Read More About Auto Loan Rates at Newbuyer.com

How to Finance a Car and Get a Car Loan

NewBuyer — Mon, 14 Dec 2009 00:30:52 +0000

A first-class guide on how to finance a car. The basics of car loans are covered along with loan terms, how your credit score can affect your interest rate, how to shop around for a car loan and how important it is to arrive at the dealership with auto financing in hand.

From the Resource: “Car financing is tricky even when the credit market is good. Now that the credit market is tight, it’s back to basics for buyers and lenders. Check out the car financing basics covered below to make sure you get the best car loan for your next vehicle.”

Source: US News Rankings and Reviews

Read More About Auto Financing at Newbuyer.com

Current National and State Average Auto Loan Rates

NewBuyer — Thu, 10 Dec 2009 01:34:06 +0000

One of our favorite tools for a quick look at the current national car loan rate as well as car loan rates for each state. National averages are listed for four products: 36, 48 and 60 month new car loans and 36 month used car loans. By state you will find not only state averages but highest rates and lowest rates for the above mentioned products.

Source: Bankrate.com

Read More About Auto Loan Rates at Newbuyer.com

Buying a Car with a Home Equity Loan

NewBuyer — Sat, 05 Dec 2009 11:30:53 +0000

A helpful look at the benefits and risks of buying your new car with a home equity loan. The benefits discussed are low rates, bargaining power and tax savings. The risks presented are closing costs, potential rise in interest rates and consequences of defaulting on the equity loan.

From the resource: “By getting approved for a home equity loan before you visit the dealership, you may be able to negotiate a better price.”

Source: LendingTree

Read More About Auto Loan Types at Newbuyer.com

Finance Your Car: Loan Types

NewBuyer — Fri, 04 Dec 2009 09:00:21 +0000

A detailed look at the different types of auto financing available for new car buyers. The loan types discussed include dealer loans, third party loans, local bank and credit union loans, captive financing company loans, balloon car loans, secured car loans, auto pawn loans and long term auto loans.

From the resource: “Vehicle financing has become a huge industry, with nuances that car buyers should know about.”

Source: CarsDirect

Read More About Auto Loan Types at Newbuyer.com

Car Loan Buying Tips

NewBuyer — Thu, 03 Dec 2009 13:00:08 +0000

A condensed, yet helpful look at four car loan tips. The resource recommends carefully determining how much you can spend on a new car, defining your needs and then your wants and carefully researching your new car as well as the car buying process.

From the resource: “First of all, about 70% of all new car purchases are financed. So unless you plan on paying cash for your new car, or you are going to apply for a car loan, chances are you will be financing your purchase.”

Source: Automotive.com

Read More About Auto Financing at Newbuyer.com

Dealers Hold the Cards When They Finance Your Car

NewBuyer — Mon, 16 Nov 2009 23:35:46 +0000

An eye-opening look at the inner workings of dealer-based financing. Markups that benefit the dealer are common place.

From the resource: “A dealer’s cut usually means bumping up the interest rate on the loan. Will the best deal for a dealer be the best deal for a consumer?”

Source: Bankrate.com

Read More About Where to Get an Auto Loan at Newbuyer.com

Auto Loan Advice for First Time Car Buyers

NewBuyer — Sat, 14 Nov 2009 02:30:50 +0000

A compilation of helpful car loan buying advice from seasoned car buyers. Advice includes not taking on a car loan that is the largest you can afford, understand your auto loan interest rate and ask friends and family for car loan advice.

From the resource: “Many people who’ve purchased several cars in their lives look back on their first car buying experience and wish they’d made different decisions. When you’re looking for your first car, it’s a good idea to consider the advice of others in order to avoid making some of the more common mistakes.”

Source: 411 Easyloans.com

Read More About Auto Financing at Newbuyer.com