Record number of millennials default on car loans

As prices for new and used vehicles continue to rise in the United States, a record number of millennials and Gen Zers are struggling to keep pace with their auto loans than before the COVID pandemic. -19. TransUnion, the credit reporting agency, released new data comparing auto loan delinquency rates from before the pandemic to […]

More and more people are falling behind on their auto loans

People are falling behind on car loans, Toyota is slowing production lines, and Audi is suing NIO for copyright infringement. All this and more in The morning shift for June 16, 2022. 1st Gear: This surely bodes well for the economy as a whole Ford Chief Financial Officer John Lawler said Wednesday Mustang Mach-E manufacturing costs were risingand […]

The Scoop on Bad Auto Loans

Do you know your credit score? This three-digit number carries considerable weight throughout your adult life. It can determine whether buying big-ticket items like a car or house is easy or stressful. For many people, this last point is true, as their credit scores may still improve due to periods of financial instability or limited […]

Fed interest rate hike expected to impact mortgages and auto loans

Mortgages, car loans and credit card debt are about to get more expensive. The big picture: The era of cheap borrowing is over: the Federal Reserve is trying to rein in the economy, and the cost of borrowing is rising as it rushes to contain inflation. Higher borrowing costs could cause consumers and businesses to withhold […]

A woman who defaulted on two car loans has her debt reduced

A woman who couldn’t repay the loans on two cars had the amount she owed reduced by $3,500 because a financial dispute resolution service said the loans were unaffordable from the start. The woman first borrowed $8,500 in 2012 to buy a car. But she got into trouble when her benefits went down and she […]

Palm Springs Nissan offers online pre-approval for auto loans near Cathedral City, CA

People from different backgrounds have varying credit histories, which affects the approval of their car loan applications. Palm Springs Nissan, a car dealership near the Cathedral City area of ​​California, now offers online pre-approval for car loans. Prospective buyers are advised to visit the dealership’s official website and complete a simple online application form to start their auto finance process. […]

Are online auto loans legit?

If you Google how to get a car loan online, you’re probably bombarded with ads and websites vying for your business. It’s pretty simple, like most things people do online these days, you fill out some information and a lender contacts you with a yes or no. But are these online lenders legit? Here’s what […]

How do auto loans work? – Forbes Advisor

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Cars are expensive, which is why many people rely on car loans to finance them. Taking out a loan is a big decision, so it’s important to understand how car loans work before applying. […]