Finance Globe Blog

U.S. financial and economic topics from several writers.

Steps to Take to Purchase a Car Online

Steps to Take to Purchase a Car Online
Let’s face it: the traditional car buying experience is anything but enjoyable. Sure, you’re excited about purchasing a new car, but that doesn’t mean you’ll have a good time from start to finish. Fortunately, with the help of the internet, you can save yourself a lot of time and unnecessary stress. If you’re interested in completing the entire process (or most of it) online, here are some steps to take: 1. Do Your Homework Even though...
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What to Do If You're Behind on Your Car Payments

What to Do If You're Behind on Your Car Payments
Your auto loan payments are one of the most important of your monthly payments. Missing loan payments can have serious consequences for your credit and put you at risk of losing your only source of transportation. After three missed payments, many auto lenders will declare your loan in default and at that point they may begin the repossession process. In repossession, the lender takes possession of your car – they don’t have to ask or warn...
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8 Money Moves to Make Before You Buy a Car

8 Money Moves to Make Before You Buy a Car
The financial decisions you make in the months leading up to your car purchase will play a big role in whether you’re approved for an auto loan and the interest rate you pay. Making the right money moves is key to a smooth car purchase.  Keep only the credit cards you have. Opening new credit cards can hurt your credit score in two ways: by adding additional inquiries to your credit report and lowering your average credit age....
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Frank
Avoid taking on any new credit cards and new debt is great advice. Over the life of your loan, this could save you $1000s. If you ... Read More
Monday, 21 November 2016 18:36
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Car Financing Tips: Use These to Your Advantage

Car Financing Tips: Use These to Your Advantage
Are you in the market for a new or used vehicle? If you aren’t making your purchase with cash, it’s time to learn more about the financing process. Although it can be intimidating to search for a car loan, there are some steps you can take to make this process more enjoyable. Here are several tips you can use to your advantage: •    Save for a down payment before making your purchase. In short, the more...
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Frank
I have never been a car guy and always advice people to purchase a used car especially if they do not have the cash on hand. Auto ... Read More
Monday, 21 November 2016 18:32
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A Quick 7 Step Guide to Buying a New Car

A Quick 7 Step Guide to Buying a New Car
Regardless of your circumstances, buying a new car should be an enjoyable experience. When you take the right steps at the right time, you will end up with a set of wheels you will enjoy for many years to come. While some people show up at a dealer and choose the first car that catches their eye, others implement a more detail oriented approach. If you are in the market for a new car, here is...
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Frank
I hated my experience purchasing a car. Setting and sticking to your budget is the absolute most important step. Never go above yo... Read More
Friday, 24 June 2016 14:54
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Negotiate the Price of a New Car Without the Hassle

Negotiate the Price of a New Car Without the Hassle
The thought of buying a new car is exciting, until you realize you have to negotiate with a pushy salesperson. At that point, you begin to wonder what you were thinking. Would you be better off with your old vehicle? If you are interested in buying a new car, if you don’t want to go through the hassles of negotiation, here are a few things you can do: 1. Start online. Use the internet to not...
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Frank
Online is the best place to go. Most of those prices are the most competitive price they can offer and there is little wiggle room... Read More
Sunday, 22 May 2016 17:43
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Answer Key Financial Questions Before Buying a Car

Answer Key Financial Questions Before Buying a Car
Unless you have an unlimited supply of money (don’t we all wish), buying a car is a big financial decision. To protect against a costly mistake, it’s essential to answer a few key questions before signing on the dotted line. Here are a few to address: 1. Will you finance the purchase or pay in cash? There are benefits of both, so make sure you list out the pros and cons. If you don’t have the...
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Frank
If you are financing your purchase, check out Chris’s post on the best way to find a car loan. I said to make sure you get quotes ... Read More
Tuesday, 08 March 2016 09:36
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Thinking of Buying a New Car? 3 Reasons Not To

Thinking of Buying a New Car? 3 Reasons Not To
Buying a brand new car is definitely exciting. Maybe it’s knowing that you’re the first person to ever own the car. Or, knowing that you'll have a few good years before you start having major mechanical issues. Everything on a new car is clean and shiny and the new smell is unmatched. Most people who buy a brand new car do so for a certain feeling and that feeling comes at a cost. Here are three reasons a new...
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Frank
New cars are of course very nice to have, but certainly not a necessity. Make sure you think long and hard about your financial si... Read More
Tuesday, 08 March 2016 09:32
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What’s the Best Way to Find a Car Loan?

What’s the Best Way to Find a Car Loan?
As you search for a car loan, you may begin to wonder if you are taking the right approach. Many consumers don’t care how they find a loan as long as the rate is low and the lender is reputable. But here is the question: how can you guarantee that you are getting the best deal? Here are three strategies to consider as you search for a car loan: 1. Call around to as many lenders...
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Frank
It is extremely important to call as many lenders as possible. You need to quote at least 5 places to get the best possible rate. ... Read More
Tuesday, 08 March 2016 09:12
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Four Reasons Not to Get a Long-Term Auto Loan

Four Reasons Not to Get a Long-Term Auto Loan
More Americans are choosing long-term auto loans, up to 84 months in some cases. That's seven years of car payments! Longer-term car loans are attractive because they allow buyers to purchase a more expensive vehicle with a lower monthly payment compared to a shorter-term loan. While a long-term car loan make it more affordable to get behind the wheel of the car of your dreams, there are several drawbacks to vehicle loans with long repayment periods. You’ll end up upside...
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Frank
I agree! Cars in general are terrible investments and are just a cash use asset. The quicker you pay off your car loan, the better... Read More
Thursday, 18 February 2016 11:22
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