Finance Globe

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

How Much Should You Spend on a New Car?

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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...
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Wanderer
Certainly is a lot to consider when buying a new or pre-owned vehicle. Noticed people commenting about taking 72 month or 84 month... Read More
Saturday, 10 August 2019 07:05
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6 Things to Know Before You Buy a Car With Bad Credit

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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...
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Wanderer
This is a reality check. What is real in auto loan refi's.
Saturday, 13 July 2019 03:20
Frank
Test
Monday, 26 August 2019 13:30
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Can You Really Afford That New Car?

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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,...
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Should You Refinance Your Car Loan?

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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...
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Frank
I always recommend to purchase a car without financing (if you are able to). The interest rates are just too high in my opinion.... Read More
Monday, 26 August 2019 13:33
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What Should You Look for in a Car Loan?

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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...
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What To Do If You're Upside Down in a Car Loan

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  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...
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Frank
Has anyone been in this situation before? Given how fast cars depreciate, I would expect this to happen a lot.
Tuesday, 29 January 2019 16:25
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How Much Will You Spend On a New Car?

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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...
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Frank
My philosophy on purchasing cars is to buy used, a car with less than 40,000 miles. I feel this is where you can get the best deal... Read More
Wednesday, 26 September 2018 14:25
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Don’t Forget the Other Costs of Buying a New Car

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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...
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Frank
I never advise anyone to buy a brand new car. Cars depreciate in value so quickly. My recommendation is to purchase one 1-4 years ... Read More
Saturday, 19 May 2018 14:30
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Disadvantages of Auto Loans

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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...
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5 Things to Know About Getting the Best Auto Loan

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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...
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Guest — GCC Business Finance
Hi, Here are five things you should do: Check your credit reports. ... Shop around for the best rate. Choose the shortest loan ... Read More
Wednesday, 20 December 2017 01:55
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