Finance Globe

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

New Car Negotiation Tips: Don’t get Scared

When buying a new car, there is no doubt you will spend a lot of time pondering the price. Are you spending too much? Should you opt for another vehicle? Is there anything you can do to save money? These are the types of questions that are sure to be circulating your mind. As confusing as it sounds, negotiating a great deal on a new car does not have to be a challenge. Here are three...
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What You can do About a High Car Payment

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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 in this position,...
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Frank
Cars never hold their value. I usually recommend to try and ride it out, but refinancing is sometimes an option for certain situat... Read More
Wednesday, 20 December 2017 17:45
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What to Do After You Pay Your Car Loan

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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 to the office...
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Frank
I always call the bank to confirm there is no more outstanding balance. I have had an issue before where I had a small balance and... Read More
Wednesday, 20 December 2017 17:42
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Buying a New Car? Questions for the Finance Manager

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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 the monthly payment is...
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Pinky
We bought a new Chevy in 2004. We opted for the diesel Cruz for the mileage benefits but wondered about maintenance and repair of... Read More
Saturday, 22 July 2017 15:47
Frank
When I purchased my car, I used a 3rd party finance loan as I got a much better deal. I knew the rates prior to going in.
Wednesday, 20 December 2017 17:19
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What are the Benefits of Buying a Car Online in 2017?

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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 definitely do...
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Frank
One of my good friends purchased a car online and had only positive things to say about it. The next time I buy a car, I am going ... Read More
Wednesday, 26 July 2017 13:36
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Will a biweekly payment plan really save you money on your car loan?

Will a biweekly payment plan really save you money on your car loan?
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 their...
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Frank
Incredible analysis Alison, this is awesome!!!
Friday, 30 June 2017 15:27
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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...
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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
Frank
This is extremely helpful and detailed! Thanks for the information. The next time I purchase a car, I will definitely look into th... Read More
Monday, 22 May 2017 10:34
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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 this strategy:•    Interest...
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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 HomeworkEven though you’re using the internet to...
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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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