The average loan for new passenger vehicles surpassed $32,000 in 2019, with the average first-time monthly loan payments rising to $554. Coupled with high APRs and lengthy loan terms, countless Americans pay thousands towards the interest on their loan alone. Like many Americans, you may be asking, “Can you refinance a car loan?” Refinancing options [...]
The automotive industry in America hit record highs in 2019 with an estimated $1.2 trillion in outstanding car loan balances. Today, 85% of new passenger vehicles are financed, with the average first-time loan payment rising to $554 a month. If you’re like many Americans, you may be paying an auto loan that is too costly. [...]
In America, 85 percent of newly purchased vehicles are financed through a loan or lease. Today, most auto loans are up to nine years long for new cars and up to six years on used vehicles. While lengthier loans can reduce a borrower’s monthly payments, it can cost them far more in the long run. [...]
For most people, having a car is a necessity. Unfortunately, cars often come with big payments that can drain a person’s budget and make them feel stressed. There are a few options when you are considering how to lower your car payment, and one of the best is via refinancing. Refinancing a car loan can [...]
Love the car you lease? Buying out your lease might be your best bet. Buying out a lease should normally be straightforward when the option is available. Determining whether a buyout makes sense can take a bit of thinking but should generally be fairly easy, too. Lease Terms and Timing Determine Whether Buyout is [...]