Expert Advice for Finance

All Questions on Finance

Can I get a car loan in my name for a car I want to give as a gift?
I want to give my wife a new car for her birthday. Can I take out a car loan in my name even if she’ll be the primary user?
Eric Schad
Oct 28, 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?
Eric Schad
Aug 12, 2021
How do I get out of a car loan contract on my Nissan?
I have a car loan for my 2018 Nissan Pathfinder, but I've grown tired of the car. Can I get out of the loan? How?
Eric Schad
Oct 28, 2021
Can I take over my friend's car loan?
My friend can't pay for her car loan anymore due to some extenuating circumstances. Can I take over her loan? (I love her car, too.)
Eric Schad
Oct 28, 2021
Is it possible to get a car loan with no income on paper?
I want to get a car loan, but I currently work for straight cash. Can I still get a car loan if I don’t show any income on paper?
Eric Schad
Nov 15, 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?"
Eric Schad
Aug 10, 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?
Eric Schad
Aug 02, 2021
How do I get a car loan with Wells Fargo?
I’ve been a loyal customer with Wells Fargo for about a decade, but I’ve only had checking and savings accounts. I want to buy a car, but I want to go with Wells Fargo for it if I can. How can I get a car loan with Wells Fargo?
Eric Schad
Dec 14, 2021
How do I properly review my car loan agreement?
I'm going to close on a car loan in about a week and I want to be prepared. How do I properly review the loan contract so I'm not surprised by anything?
Eric Schad
Oct 28, 2021
Why doesn't Chase have any record of a car loan that the dealer said they financed through them?
I'm a first-time car buyer. I went to purchase a vehicle with financing and the dealer said they were working with Chase. I was skeptical of the agreement from the start, as some of the initial numbers (interest rate and principal) they gave me don't match the numbers on the loan agreement. I also called Chase and they have no record of any loan. What gives?
Eric Schad
Jul 30, 2021
Can you cash a ripped check?
I ripped up a bunch of old papers on my desk last night and I realized that there was a check that I hadn’t cashed in there. It isn’t ripped into many pieces but it certainly is ripped. Can you cash a ripped check?
Chloe Jenkins
Feb 24, 2022
Should I finance through Hyundai Motor finance to get incentives and then refinance through my credit union?
I want to buy a new Hyundai Kona. Hyundai Motor Finance is currently offering up to $3,500 worth of incentives. The only problem is that they want to give me an interest rate of 5.99% compared to 2.9% from my credit union. Can I finance through Hyundai and then refinance immediately through my credit union?
Eric Schad
Aug 02, 2021
Can I get a lower price if I finance through a dealer?
I was looking at financing a car, and the price has consistently dropped. I was wondering if I could get them to go even lower if I finance with them. Is this a possibility?
Eric Schad
Aug 02, 2021
Where can I get a loan for a car that's over 10 years old?
I want to buy a used Corvette with low miles, but it's nearly 15 years old. Because of its age, I'm worried that I won't be able to get a loan. Is there a place I can get a car loan for a vehicle that's over 10 years old?
Eric Schad
Aug 10, 2021
How do you calculate the interest paid on a car loan?
Is there a way to calculate the total interest that I will pay on my car loan without doing a bunch of math? I’m trying to decide if I should refinance and I found an equation for it but it’s super confusing and I would rather just type some numbers into a calculator.
Liz Jenson
Dec 14, 2021
Is CarMax a good place to get financing for a car?
I have my eye on a car at CarMax because of its low mileage and good price. Should I also go through them for financing? I've heard both the good and bad. Is CarMax a good place to get a car loan?
Eric Schad
Aug 02, 2021
How do I buy a car with a bank loan?
I’m buying a new car, but I need to finance a portion of it. I’m fairly certain I want to use my current bank for the loan. How do I buy a vehicle with a bank loan?
Eric Schad
Dec 14, 2021
How do I pay toward the principal of a car loan?
I want to pay off my car loan faster, so I decided to put money toward the principal each month. The only problem is that I’m not sure how to do it. How do I make principal-only payments toward a car loan?
Eric Schad
Dec 01, 2021
How do I get approved for a car loan?
I’ve never had a car loan before, but I’ve had numerous personal loans. Paired with my credit cards, I have a decent credit score of around 720. But now that I’m shopping for a car loan, I’m not quite sure what the next step is. How can I get approved for a car loan?
Eric Schad
Dec 14, 2021
Will applying for multiple car loans hurt my credit score?
I'm shopping around for a car loan lender, but I don't want to damage my credit score. Can I still apply to multiple lenders?
Eric Schad
Oct 28, 2021
Can I get a car loan with no credit?
I want to purchase a car, but I don't have any credit. I'm also 26 years old and make a steady income. Can I get a car loan?
Eric Schad
Oct 21, 2021
Should I use my preapproval rate of 2.79% to negotiate a price with the dealer?
I went to a dealer and they offered me a financing rate of 9.49%, which I found unacceptable. I then went to my bank and they gave me a rate of 2.79%. Should I use the bank interest rate as a bargaining tool to get a lower price on the car, or should I just accept the rate as a discount on the car?
Eric Schad
Aug 02, 2021
Can you be denied for a car loan after you've taken possession of a vehicle?
I got financing through a dealer for a used Lexus. Two weeks after driving the car off the lot, I got an adverse action notice in the mail saying I've been denied the loan. Why would this be? Can I actually be denied financing after taking possession of the car?
Eric Schad
Aug 02, 2021
Can I get a car loan for a Chevy if I don't have a job?
I want to buy a new Chevy Trax because it's one of the more affordable cars out there. But can I get a loan if I don't have a job?
Eric Schad
Oct 28, 2021
Do multiple car loan applications hurt your credit?
I want to get a car loan, but my friend told me that I should shop around with multiple lenders. I know that each lender does a hard inquiry on your credit. But do multiple car loan applications severely hurt your credit?
Eric Schad
Dec 14, 2021
Should I finance a car with a warranty or buy a car with cash?
I need a car to get to my job, but I don't want to add more debt to do so. I have $6,000 saved to buy a car with, which I'll probably spend about $5,000 and save $1,000 as an emergency repair fund. My father thinks I should get a certified pre-owned vehicle that's $12,000, pay half in cash and finance the rest. Which is the better option?
Eric Schad
Aug 02, 2021
How long does it take to finalize a car loan?
I just got hired for a new job, but I need a set of wheels to get to the office. I was taking the bus to interviews, but it's not really an option to get into the office on time. If I get a car loan, how long does it take to finalize it?
Eric Schad
Nov 16, 2021
What is a car loan prequalification and how do I get one?
I'm thinking about buying a car and an ATV at the same time, but I don't want to hurt my credit score with too many hard inquiries. A friend told me I should get prequalified. What does this mean?
Eric Schad
Oct 20, 2021
Is it possible to use a student loan to purchase a used car?
I want to get a car when I go to college, but I don't have any money to do so. Can I use part of my student loan to buy a car?
Eric Schad
Nov 17, 2021
Do car dealers get kickbacks from lenders on car loans?
Every time I've purchased a car, the salesperson is always pushy about financing. Do car dealers get kickbacks from lenders?
Eric Schad
Aug 10, 2021

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free