Finance Globe Blog

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

Do You Really Need That Gap Insurance Policy? Yes, but... (what the dealership doesn’t want you to know)

Do You Really Need That Gap Insurance Policy? Yes, but... (what the dealership doesn’t want you to know)
So you finally found your dream car (or something close to it that you can afford). You’ve done your homework and you’re pretty sure you’ve got all your ducks in a row. You took the test drive, shopped around for a fair price, got approved for a loan with terms you can live with and a budget friendly interest rate, and you’ve made arrangements to get the right kind of insurance coverage. Ready to sign the paperwo......
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Wanderer
Great post! Never heard of "Gap" Insurance. Good to hear about the pros and cons!
Thursday, 02 February 2017 04:10
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Top Reasons to Refinance Your Auto Loan

Top Reasons to Refinance Your Auto Loan
When you look at the details of your auto loan, what do you see? While some people are happy with the terms and conditions and the progress they’ve made, others realize one thing to be true: a change could do them some good. You don’t have to get rid of your current vehicle to make things better. Instead, you can consider the benefits of refinancing your loan. Here are some of the top reasons to consider thi......
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Frank
I am currently going through the process right now, and finding it a little more difficult than other refinances. I will let you k... Read More
Tuesday, 24 January 2017 17:25
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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 you’re us......
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Frank
I would recommend to test drive the car in person. You don't need to purchase it in person, but driving the car yourself is import... Read More
Tuesday, 24 January 2017 17:12
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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 you......
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Frank
These are good tips Latoya. Luckily I have never had this happen to me, but now if it does, I know what to do.
Tuesday, 24 January 2017 17:03
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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. A......
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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 money......
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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 o......
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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 money......
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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 car......
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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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