Expert Advice for Car Loans

All Articles on Car Loans

All You Need to Know About Autopay
Autopay offers a range of car loans and specializes in auto refinance.
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Jason Tushinski
Aug 25, 2021
How to Buy A Car Loan With Little Or No Credit
Buying a car with no credit is possible, you’ll just have to convince your lender that you can be trusted to make monthly payments. If you’re trying to buy a vehicle and you have no credit history, you’ll need to know how to get an auto loan with no credit.
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Jason Tushinski
Aug 20, 2021
How Much Does a Cosigner Help on Auto Loans?
Your credit impacts your ability to get a good loan—and if your credit isn’t great, you might need a cosigner to help you qualify for better terms.
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Jessica Barrett
Sep 01, 2021
Missed Car Payments and Repossession: What You Need to Know
Missing a car payment isn’t good, but you’ll usually have between 60-90 days before repossession. Read this guide to learn how to avoid repercussions.
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Jacoba Bood
Sep 16, 2021
How to Get Preapproved for a Car Loan
If you’re hoping to get preapproved for a car loan, try setting a budget, gathering appropriate documents, and shopping around to help a great loan.
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Bonnie Stinson
Sep 01, 2021
What Is a Good APR for a Car Loan?
A good APR is usually around 2%. How much you’ll save depends on your credit, type of car, and loan term, and could be as high as thousands of dollars.
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Bonnie Stinson
Aug 20, 2021
How to Refinance a Car Loan With Bad Credit
You’re free to refinance your car loan no matter what your credit score is, but you might find yourself with higher interest rates than before.
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Jacoba Bood
Aug 20, 2021
Can I Get a Car With No Down Payment?
You might be able to get a car with no down payment, but your interest rates will often be around 12-22% and you might end up owing more than your car is worth.
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Jacoba Bood
Aug 20, 2021
Getting a Car Loan with Bad Credit
Although you might find yourself with less favourable loan terms, chances are you can still get a loan with bad credit, but be sure to read your terms carefully
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Jacoba Bood
Aug 20, 2021
How to Sell a Car With a Loan
Selling a car with a loan? You have to pay off the loan before transferring ownership. To prepare you can determine your payoff amount and current market value
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Jacoba Bood
Aug 20, 2021
How To Get A Car Loan
The easiest way to get a car loan is to have a good credit score. Then, you can shop around for lenders, seek preapproval, and begin car hunting!
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Jason Tushinski
Aug 20, 2021
How to Get Out of a Car Loan
Having trouble making your car loan payments? Refinancing, renegotiating, or even trading in your car can bring you back out of the red.
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Jacoba Bood
Aug 20, 2021
What Credit Score is Needed to Buy a Car?
A credit score of 660 or more can get you a car loan with a reasonable interest rate, but if it’s lower, you might still be able to qualify.
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Jacoba Bood
Sep 10, 2021
How to Calculate Car Payments
Whether you calculate your car payments online or by hand, you’ll first need to gather some basic car information, insurance costs, and your loan term.
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Jacoba Bood
Aug 20, 2021
How To Refinance A Car Loan In Six Easy Steps
Refinancing your vehicle could save you money and only involves a few simple steps such as gathering documents, checking credit, and confirming your loan terms.
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Jason Tushinski
Aug 20, 2021
What is a Car Lien?
A lien on a car title is legal protection given to lenders in the event you default on your loan.
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Sierra Saunders
Jun 21, 2021
What Is Buy Here Pay Here?
Buy here, pay here is a way for people with poor credit to get a car loan at a dealership.
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Bonnie Stinson
Jun 16, 2021
Everything You Need to Know About Credit Karma
Credit Karma can monitor your credit without impacting your credit score.
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Jacoba Bood
Jun 17, 2021
How to Get Someone to Take Over Your Car Payments
If you can no longer afford to pay for your car, here's what you need to know about transferring the payments to someone else.
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Cheryl Knight
Feb 12, 2021
How to Redeem Your Repossessed Car
If your car is repossessed, here's what to do.
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Cheryl Knight
Feb 05, 2021
How to get a Car Loan from a Credit Union
Credit unions offer competitive loan prices.
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Marisol Pereira
Jan 27, 2021
How to Get Preapproved for a Car Loan
When you arm yourself with a pre-approval from a lender, you're much more likely to get a good deal on both your car purchase and your auto loan.
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Brady Klopfer
Sep 01, 2021
What Is the Average Interest Rate on a Car Loan?
Knowing the average interest rate for a car loan will help you understand if you're getting a good or bad deal from your lender.
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Brady Klopfer
Jan 12, 2021
Does Refinancing a Car Hurt Your Credit Score?
Refinancing your car can hurt your credit score, as lenders will make hard checks and you'll be leaving your former loan. The affect on your score is only temporary, however.
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Brady Klopfer
Sep 10, 2021
What Are the Pros and Cons of Refinancing Your Car?
While you can almost certainly save money in the short term, refinancing your car loan does have some potential downsides, too.
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Brady Klopfer
Jan 11, 2021
When Should You Refinance Your Car Loan?
Refinancing is a great way to save money on your car payments, but make sure you do it when it makes the most sense.
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Brady Klopfer
Jan 11, 2021
How to Score a Good Car Loan
It can take some time to find a good car loan, but it’s worth the time and effort that you put into it. Your finances will thank you.
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Valerie Mellema
Dec 23, 2020
What Is a Good Interest Rate on a Car?
When buying a car, it’s not just the sticker price that should get your attention. You also need to make sure you have a good interest rate on your loan.
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Valerie Mellema
Dec 23, 2020
Should You Get a 72 Month Car Loan?
It’s best to avoid a 72 month car loan if you can. Saving money on your car insurance can help you afford better loan terms.
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Jacoba Bood
Aug 20, 2021
How to Refinance a Car
Refinancing a car is as simple as contacting your original lender, finding a new financier, and selecting a refinance plan that works for you.
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Brady Klopfer
Sep 07, 2021

All Questions on Car Loans

Should I apply with a different lender if I was already denied a loan for $20,000?
"I want to buy a car for $20,000. I don't have money for a down payment, but if I had to, I could probably get a cash advance from my credit card to put down $2,000. My credit score is 658, but many of the derogatory marks are from my parents opening up credit cards in my name and using them without my consent. I was already denied at one lender. Should I apply with a different one?"
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Eric Schad
Jun 02, 2021
How does a loan rework function?
"My lender got a hold of me for a ""loan rework"" on my auto loan. To do this, I have to put down a lump sum of $5,000, which only reduced my monthly car note from $320 to $307. How does a loan rework function? The math doesn't add up."
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Eric Schad
May 28, 2021
Can you get rid of force-placed insurance charges after they've already been charged to the balance of your loan?
I accidentally let my insurance lapse on my financed vehicle. My lender put force-placed insurance on my car. This nearly doubled my monthly payments and added to the total balance of the loan. Can these charges be removed now that I can show proof of my own insurance?
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Eric Schad
May 05, 2021
Should I pay a loan off in 36 months or 60 months if they have the same interest rate?
If two car loans have the same interest rate, which loan is the better option? I went to a dealer to finance a new car, and they're running a 0.9% APR financing special for either 36 or 60 months.
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Eric Schad
Jul 03, 2021
"Is it possible to get a car loan with low income of $800 to $1,000 a month? "
"I am 19 and I have an excellent credit score. I make money by doing odd jobs for my neighbors. The work has been consistent for the last two years and I usually make $800 to $1,000 per month. Could I get a car loan? "
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Johnny Puckett
Apr 26, 2021
Should I refinance my Nissan 370Z to cut my interest rate and pay off the balance sooner?
"My annual salary is about $80,000, and I have a $20,000 car loan with a 6.74% interest rate. Refinancing this loan will cut my rate down to 3.99%. I plan to pay off the loan within eight months. Is refinancing my Nissan 370Z worth it?"
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Eric Schad
Jun 07, 2021
Can I convert a personal car loan to a commercial one?
More and more often, I'm using my personal car to run errands for my business. This car was bought with a loan. Can I change this loan to a commerical loan?
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Johnny Puckett
Apr 08, 2021
Can I have a cosigner who doesn't have a valid driver's license?
I want to buy a new car, but need it financed. However, my only cosigner doesn't have a valid driver's license. Will this pose a problem?
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Eric Schad
Apr 27, 2021
Does a dealer still need to run my credit if I got preapproval for a loan?
I got preapproval for a car loan from my credit union. When I went to the dealer, they insisted that I undergo a credit check before buying a car. Do I have to submit to this if I already have financing?
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Eric Schad
Aug 12, 2021
What do I do after I get approval for a car loan for $20,000?
"I went to my bank and got approved for a car loan up to $20,000. What's the next step in the loan or car-buying process?"
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Eric Schad
Jun 07, 2021
What happens to the remaining balance of your car loan if you sell the car but you're upside-down?
"I'm upside-down on my current car loan, but I want to sell the vehicle to buy a new one. I know that I need to take the sales proceeds and apply it to the loan, but what happens to the remaining balance on the loan?"
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Eric Schad
Jun 16, 2021
Can I take out a car loan for another person?
My friend needs a car loan, but he has awful credit. Can I get a loan for him? My credit and financials are more stable.
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Johnny Puckett
Mar 12, 2021
How does leasing a car differ from getting a car loan?
I want to get my first car soon. Can you explain the difference between borrowing and leasing to get a car?
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Jim Donaher
Mar 12, 2021
"What kind of car loan is best for a classic truck like a C-10 Chevy? "
"I have always loved the C-10 Chevy trucks of the 1970s. However, they’ve gone way up in value lately and I would have to get a car loan to buy one. Another issue is finding one worth buying and getting the loan in a timely manner. How is this usually handled, and what is the best way to go about financing a classic truck? "
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Johnny Puckett
May 11, 2021
How do I get a bogus unpaid auto loan wiped from my credit history?
My credit history shows an unpaid auto loan for a truck. I did buy this truck in 2016, but I only kept it for a week before returning it as a lemon. For some reason, I guess the dealership didn't notify the credit bureau that I'd returned the truck. How do I remove this loan from my credit history?
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Eric Schad
Mar 12, 2021
Do car dealers raise the price of the vehicle when they offer 0% financing?
Do car dealers raise the price of the vehicle when they offer 0% financing? I've heard that 0% financing is great for buyers. However, I've also heard that dealers raise the price of the vehicle to offset the loss in income.
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Eric Schad
Jul 01, 2021
Can you be a cosigner for someone else's car loan if you have a cosigner on your own car loan?
"I needed a cosigner when I first bought my car because I didn't have much credit history. Fast-forward a few years, and I finally have a credit score of 770. My friend also needs a car, but she doesn't have the best credit. She's asked me to cosign on her loan. Can I cosign for a loan if I already have a cosigner on my own loan?"
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Eric Schad
Jun 16, 2021
Should I opt for car incentives and rebates or a lower interest rate?
"I'm shopping for a car and in quite a conundrum. My credit union has offered me a rate of 1.7% for 48 months. On the other hand, the dealer has offered $3,500 off the price of the car if I accept a 5.7% loan for 48 months. The amount I need to finance without the $3,500 off is $31,500. Should I go for the incentives or the lower interest rate?"
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Eric Schad
Aug 10, 2021
How much money could I save if I pay off my $25,000 car loan early?
I owe $20,000 on my $25,000 loan. The current interest rate is five percent, and I still need to pay for 48 months. How much can I save if I pay my loan off early?
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Eric Schad
Apr 27, 2021
Is there an age limit for cosigning for a car loan?
Is there an age limit for cosigners? My bank tells me I need a cosigner to get a car loan. The only person I can find is my grandfather, who is 85 years old.
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Eric Schad
Jul 13, 2021
Can I apply for a car loan if I don't know what car I want?
"I'm shopping for a car, but I don't know which one I want. Can I still get approved for a car loan without knowing the model?"
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Eric Schad
Jul 27, 2021
What do you typically need to qualify for 0% APR financing?
The local Kia dealership is offering 0% financing for new cars, but in the fine print it reads for qualified buyers. What do I need to qualify for 0% APR financing?
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Eric Schad
Aug 02, 2021
What credit score do I need to get a car loan from Carvana?
"Will Carvana approve me for a loan if I have low credit? I was looking at Carvana for my next car, but I also heard they have excellent financing. However, my credit isn't great."
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Eric Schad
Jul 28, 2021
Will paying off a car loan help your credit?
My credit isn't bad, but it's not great. I'm going to buy a house soon, and I'm hoping to improve my credit score before then. If I pay off a car loan, will that help?
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Liz Jenson
Sep 23, 2021
Can I back out of a car loan if I didn't make the down payment?
Since I haven't taken possession of the car nor have I made a down payment, can I back out of the loan? I bought a car from a dealer with the stipulation that I have to put down 20% to get approval for the loan. I've also signed a future purchase contract.
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Eric Schad
Jul 01, 2021
Can I or my dad take over a car loan from a family friend?
A family friend wants me or my dad to take over a car loan for a 2016 Toyota Camry. There's $7,400 left on the loan. I'm only 17, and my dad doesn't have great credit since he was unemployed for 16 months and fell behind on some bills. Would either of us be able to take over the loan?
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Eric Schad
Mar 12, 2021
How long does it take for a car loan to be approved?
I need a car loan in a hurry since I need a car to commute to my new job. How long will it take to get approved?
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Jim Donaher
Mar 12, 2021
Should I do direct lending or finance through the dealership?
Which is the better option: Direct lending or financing through the dealership? I've heard mixed stories on both.
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Eric Schad
Jul 14, 2021
"Why did I get a letter from an auto lender saying my counteroffer was not accepted? "
"I bought a new car from the dealership. After putting a lot of money down, trusting the dealer to source the financing for the rest, signing on the loan, and driving the car for over a month, I got a letter from a lender saying my counteroffer was not accepted. I don’t remember making a counteroffer to anyone and the lender that sent me the letter is not who I was told to send my payments to. What does this mean? "
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Johnny Puckett
May 11, 2021
Can you only finance up to 120% of a car's value?
Can you only finance up to 120% of your car's value? I want to get some extra money when I finance my car so I can do upgrades. I'm not exactly sure how much I'll need, but it will probably be around 20% to 25% of the car's value.
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Eric Schad
Jul 01, 2021

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