Finance Globe

According to analysts at Kelley Blue Book, the average transaction price for light vehicles in the United States is hovering around $37,500.Even if you’re willing to spend this much on a new car – or more – it doesn’t mean you should make a foolish financial decision.There are various factors to consider when answering the question of how much you should spend on a new car. Here are a few things to keep in mind:•    The...

There are plenty of companies that have no reservations about taking advantages of vulnerable consumers - like people buying a car with bad credit. If you're trying to buy a car and you don't have the best credit score, realize that your credit makes you a risky borrower, even if you can afford to purchase the vehicle. Here's what you should know as you're shopping around.You'll have a higher interest rate. The cost of borrowing money is directly tied...

It’s new, it’s shiny, and it has that new car smell. What more could you want? As tempting as it may be to purchase a new car, don’t go down this path until you’re 100 percent sure that it’s the right financial move.When shopping for a new car, it’s easy to pay attention to nothing more than the sticker price and the deal you negotiate. However, there are many other costs associated with this purchase, including...

Before you decide to refinance your car loan, it’s important to determine if you’ll benefit as a result. If everything checks out in your favor, it’s time to contact three to five lenders to learn more about your options and the best way to proceed.If you’re on the fence, here are several benefits of refinancing:•    Lower interest rate: This is one of the top reasons to refinance, as a lower rate saves you money over the...

Buying a car is supposed to be fun. Unfortunately, your good time can be spoiled if you run into challenges when searching for a loan.On the plus side, there are thousands of lenders across the country offering car loans. From small community banks to national lenders to credit unions, your options are nearly endless.With so many options, you must carefully consider the finer details of each lender and loan that’s available to you. Here are three...

 In the ideal car buying scenario, the value of your car would always exceed your outstanding loan balance. However, sometimes the opposite can happen and you owe more on your car than your car is actually worth - a situation that's referred to as being upside down on your loan. For example, if your outstanding loan balance is $17,000 and your car is valued at $12,000, then you’re upside down. If you wanted to sell or...

According to Kelley Blue Book, the average cost of a new car is approximately $36,000. For some, this may be the perfect price point. For others, it may be entirely too expensive.As you shop for a new vehicle, it’s important to do so with your budget in mind. If you don’t, you could fall prey to all the bells and whistles, thus paying more than you can comfortably afford.Here are three basic things to keep in...

Are you thinking about trading in your current vehicle? Do you have reason to believe that now’s the best time to make this move, both from a personal and financial perspective?While the actual cost of the vehicle will impact your budget in many ways, you don’t want to stop there. There are other costs to take into consideration, all of which will determine if making the move is a good idea.Here are three additional costs to...

If you need to purchase a car (new or used), it would great if you were in a position to purchase the car in cash. Unfortunately, very few people are in that kind of financial position to be able to do that. That really only leaves you with one option: financing the car through an auto loan. While that may be the only option available for you, I wanted to lay out some disadvantages you may...

A lot of people still do not do much research on auto loans when purchasing a car. While people assume the dealership will provide you the best option that is definitely not the case 100% of the time. Below I have summarized 5 things to know about getting the best auto loan for yourself:Focus on the total purchase price rather than the monthly payment: You should always focus and negotiate on the total purchase price of...