How to Calculate APR on a Car Loan?

How to Calculate APR on a Car Loan

Annual Percentage Rate (APR) is the cost of borrowing money, including fees, that you pay each year. Interest rate is the cost of borrowing money yearly. Both are expressed as a percentage. However, while APR includes fees or other charges such as closing costs, mortgage insurance, loan origination fees, and discount points, the  interest rate … Read more

How Fast Will a Car Loan Raise My Credit Score?

How Fast Will A Car Loan Raise My Credit Score

A car is a big purchase, whether buying a brand new or used one, and a car loan can soften the impact of the big dent on your wallet. While the loan can positively affect your credit, it isn’t felt immediately. So, you may wonder “how fast will a car loan raise my credit score?” Well, … Read more

How to Pay Off a Car Loan Faster?

How to Pay Off a Car Loan Faster or Early

Paying off your car loan early or before the full term allows you to save money, as your total interest will be lower – if your lender will allow prepayment without penalties. However, paying your car loan earlier may be difficult, but there are some things you can do to completely settle your loan ahead … Read more

How to Get Out of a Car Loan You Can’t Afford

How to Get Out of a Car Loan You Can’t Afford

Getting a car loan is a convenient way to buy your own car if you cannot afford to pay for it in cash. However, some circumstances may arise in the future that will make meeting your monthly car loan obligations difficult for you. Fortunately, there are things you can do to avoid aggravating your situation, and … Read more

How to Get a Car Loan with Bad Credit?

How To Get A Car Loan With Bad Credit

Nowadays, a car is essential for personal needs like going to school and getting to work. However, getting approved for a car loan can be difficult in times of economic downturns when it can be difficult to maintain a good credit score. While qualifying for a car loan with a bad credit score may seem difficult, … Read more

How Do Car Loans Work?

How Do Car Loans Work

A car loan is an installment loan that enables you to conveniently purchase a car. It’s a legally binding agreement between the lender and you. It stipulates that the lender will give you the funds, and you’re responsible for paying back the amount you borrowed along with interest and other charges. A car loan can help … Read more

Why & How to Get Preapproved for a Car Loan?

How To Get Pre Approved For A Car Loan

Getting preapproval allows you to negotiate more effectively, and get the best interest rate. It helps you set a realistic budget because it tells you how much you can borrow, and at what interest rate. It is important to keep in mind that getting preapproved does not mean you can buy any car at that price. … Read more

How to Sell Your Car When You Still Have a Loan?

How To Sell A Car With A Loan: How to Sell Your Car When You Still Have a Loan

It’s possible to sell a car with a loan, but you have to pay off the loan first. This way, the lender can release the title, so the car can be sold to the new owner without lien – whether it’s a private buyer or a dealer accepting a trade in. One way to do this … Read more

How to Refinance a Car Loan?

How to Refinance a Car Loan

Car refinancing is basically getting a new loan to pay an existing loan. The car is used as collateral for the new loan. If you default on the new loan, the lender will repossess your car to recover the loss. The main advantage of refinancing is that it will lower your monthly payments or your … Read more

How to Get Approved For a Car Loan?

How to Get a Car Loan

At a Glance:Getting the right car loan is just as important as looking for the right car to buy.Getting a car loan should begin by setting a budget and assessing your credit standing. You can then get preapproval offers.Compare the different offers, find the most preferable rates, then select the car. Quick Navigation Bank or … Read more