buying-frsit-car

Tips for Buying Your First Car

Car payments are likely the first regular financial obligation a young adult encounters. Previous to this, you may have paid small costs, but nothing as regular or expensive as car payments.

However, that does not make this a negative experience. Buying a car while in college,or shortly after may be one of the best financial decision you make.

The Benefits of Car Ownership

Car ownership teaches responsibility and financial planning. It keeps a person on budget and requires planning for the future. While these may sound like dull adult-world traits, they will go far in ensuring success in future endeavors. Continue reading…

questions-to-ask-used-car

The Right Questions to Ask Before Financing Your Car

There are times to ask questions and times to stay silent. Buying a new car is a time to ask questions.

When going over financing options on a new or used vehicle with a dealership, questions can be the difference between a customer fully understanding the agreement or signing a financial document unaware of what they are responsible for. Ask the right questions and know your financial obligations when purchasing a car and it will save you a lot of surprise down the road. Continue reading…

What Are Your Options When Car Payments Become A Burden?

unpaid-billsWhen life throws a curve ball, sometimes people are unable to make car payments as planned. There seems to be no option but to default on your loan and miss payments. This is a bad scenario for anyone.

However, defaulting on a loan or even missing a few payments is disastrous for your credit score and may limit future credit approval. It is important to consider alternative ways to handle your car finances besides missing payments and waiting for repossession.

Take a proactive approach and keep your car, by any means possible.

What to do When the Payment is Due

If you are struggling to make car payments, you aren’t alone. Many people find themselves over their heads in debt and behind in their monthly payments due to reduced income, unexpected expenses or emergencies. The good news is that there is often some flexibility built into your agreement for situations like this. It can vary drastically by lender, so take the advice below and give your auto loan lender a call, explain you situation and see what options are available for you.

Continue reading…

trade-in-clunker

Why You Should Consider Trading in Your Old Car

Trading in a car at a used car dealership is a great option for getting rid of an old car. However, many owners forget that this option exists, or don’t consider it a worthwhile option.

When wanting out from under a car you no longer want, the owner may think the only or best option is to sell it himself, but a trade-in does have its advantages. The benefits of a trade should not be ignored, as in many ways it is superior to selling the car yourself and saves the hassle of advertising it online or in the paper and wading through potential buyers, who may or may not be serious buyers. Continue reading…

cash-credit-car

Used Car Shopping: Choosing Between Cash or Credit

If you are in the market for a used car and have the money to pay for the whole car in cash, should you?

It may seem irrational to propose not spending cash on something that is within your budget, but there are major financial drawbacks to buying a car with cash.

Be sure to consider these downsides of paying cash for a car before cutting a check. Continue reading…