Car Financing

Why was i denied a car loan?

Getting denied for an auto loan doesn’t in itself hurt your credit score. The lender didn’t extend anything, so there’s nothing that can hurt your score. However, multiple denied applications at once could hurt your score. … If you apply…

Why was i refused car finance?

You may be refused car finance if your credit score is low or in poor shape. This could be because of outstanding debts, missing or late payments on your mortgage, credit cards or bills. … It’s important you find out…

Why to refinance car loan?

If your current loan’s interest rate is higher than rates you might qualify for, consider a refinance. Lowering your payment by a percentage point or two can make a difference and save you money in the long run. You can…

Why use a credit union for a car loan?

Get Car Financing. Even with poor credit. Using a credit union auto loan can save you a lot of money in interest charges and fees on your next new or used car purchase. Credit unions generally offer much lower interest…

Why to never lease a car?

The major drawback of leasing is that you don’t acquire any equity in the vehicle. It’s a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires. In this…

Why to not lease a car?

Leasing a car can make more sense than an outright purchase under a certain set of circumstances. The biggest factor is your annual mileage. If you put less than 15,000 miles per year on your car, then leasing might be…

Why to lease a car?

The major drawback of leasing is that you don’t acquire any equity in the vehicle. It’s a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires. In this…

Why to never finance a car?

Financing a Car May be a Bad Idea. All cars depreciate. … When you finance a car or truck, it is guaranteed that you will owe more than the car is worth the second you drive off the lot. If…

Why to get a preapproved car loan?

Getting preapproved is often the best option when you’re trying to finance a car because it can help you get a lower interest rate on your loan. … This helps you negotiate the price of the car more effectively because…

Why to lease a car vs buy?

The major drawback of leasing is that you don’t acquire any equity in the vehicle. It’s a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires. In this…