Finance Globe Blog

  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...

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...

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...

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...

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...

Have you come to find that your car payment is entirely too high? Is this having a negative impact on your budget and finances as a whole? Are you hoping to make a change? It’s extremely common to bite off more than you can chew when purchasing a vehicle. You get so excited about pulling the trigger that you overlook the impact your new payment will have on your financial situation. If you find yourself...

After what seems like an eternity of car loan payments, you’ve finally mailed off the last payment on your loan. Now you fully own your car and you’re free of payments, what should you do next? Store your title away safely . In some states, the motor vehicle department will automatically mail a title to you once the lender has notified them of the lien release. In other states, you may have to actually go...

If you find yourself in the market for a new car, it won’t be long before you’re sitting face to face with the finance manager (unless you’re paying with cash, of course). Reaching this point means you have found your next vehicle and are ready to finalize the purchase. As you make your way through the process, here are some of the more important questions to ask: •    What is the total amount financed? While...

In today’s day and age, you can purchase pretty much anything online. From groceries to construction supplies, there’s no reason to leave your home when it comes time to shop and make a purchase. A growing number of people have come to find that buying a car online is one of the most enjoyable ways to get a new set of wheels. Although the entire process is not typically completed via the internet, you can...

According to Experian’s latest quarterly report the average amount financed on a new car loan is $30,621. With the average loan term and interest rate at 68 months and 4.69% respectively, an average car buyer would end up paying $4308.49 in overall interest. For many of us that’s a lot of money. It’s no wonder “tens of thousands of people” sign up for so-called loan payment acceleration plans who claim to help them pay off...