What is a Lease Buyout on a Car?
A lease buyout is when you purchase your leased vehicle before or when the lease term ends. To do th...
Income & Employment
Your job, type of income, and proper documentation are key parts to the car buying process. Whether you're a W2 employee, self-employed, or on a fixed income - it's important to know how your income can affect your ability to get a car loan.
What to Do When Test Driving a Car: Tips and Tricks
When you’re in the market for a new car, test driving is an essential step in the process. A t...
Can My Cosigner Have a Lower Credit Score Than Me?
If you have a low credit score, you may need a cosigner to help you get approved for a car loan. A c...
Can My Cosigner Sell My Car?
Selling your car when you have a cosigner can have a few requirements. This depends on a few factors...
Who Can Be a Cosigner on My Car Loan?
If you have a less than stellar credit history and are in the market for a vehicle, you may need a c...
Can You Trade In a Car that Isn’t Paid Off?
Yes. You can trade in your car if you still owe money on it, but there are some important things to ...
Can You Refinance a Car Lease?
Refinancing a car lease can be a great way to save money on your monthly payments or to get out of y...
What is a Notice of Default on a Car Loan?
If you have taken out a car loan, you have agreed to make timely payments to repay the loan. However...
Can You Refinance A Car With The Same Lender?
If you’re looking to lower your monthly car payments you may want to consider refinancing your...
Can You Refinance a Car More Than Once?
Refinancing your car loan can help you save money by lowering your monthly payments, reducing the in...
Can I Extend My Car Lease?
If you’re nearing the end of your car lease and you’re not quite ready to give up your v...
Can You Lease a Used Car?
There are lots of perks to leasing a car, however, you may not be looking for a brand new model that...
How to Get Rid of Negative Equity on a Car
If you’re facing negative equity on your car, you’re not alone. Negative equity, also kn...
Can You Buy a Car with a Personal Loan?
Yes, you can use a personal loan to buy a car. Personal loans are a flexible form of financing that ...
Do Car Payments Build Credit?
When you borrow money, it can have a significant impact on your credit score. Car payments are no ex...
Can You Return a Car You Financed?
If you’ve recently purchased a car and are having second thoughts about your decision, you may...
Do You Have to Be 18 Years Old to Get a Car Loan?
If you’re under 18 and looking to get a car loan, you may be wondering if it’s even poss...
How to Get a Bill of Sale Notarized
If you’re buying or selling a car it’s likely you’ll come upon a bill of sale. A bill of sale ...
Can a Cosigner Take Possession of a Financed Car?
If you are a cosigner on a car loan and the primary borrower has stopped making payments, you might ...
How Long Can You Legally Drive a Deceased Person’s Car?
When a loved one passes away, you may be left wondering what will happen to their vehicle. Are you a...
Can You Finance a Car with Unemployment Benefits Income?
If you are currently unemployed, you may be wondering if it is still possible to finance a car. The ...
Car Loan Default vs Delinquent: Understanding the Differences
If you’re struggling to keep up with car loan payments, you may have heard the terms ...
What is a Car Loan Default?
In taking out a car loan, borrowers have made a commitment to repay the loan according to the terms ...
What is a Joint Auto Loan?
If you are considering purchasing a car with someone else, you may want to look into a joint auto lo...
Car Loan with Under the Table Cash Income
Are you considering purchasing a car but have a cash income? You may be wondering if you’re ab...
How to Get a Bill of Sale for a Car
The bill of sale will have a set criteria of information you need included for it to be valid. ...
How to Write a Bill of Sale
A bill of sale is a legal document that’s used to record the transfer of ownership of an item from...
Can I Buy a Car Without a Valid Driver’s License?
Yes, you are able to purchase a vehicle without having a driver’s license, but it can become a mor...
What is a Deficiency Balance after Repossession?
Repossession is an unfortunate event that occurs when a borrower defaults on their car loan, leading...
First-Time Car Buyer with No Credit History: Tips and Strategies
Entering the car market for the first time can be an exciting yet challenging experience, especially...
Auto Loan Interest Rate Expectations: The Good, The Bad, & The Average
Auto loan interest rates play a significant role in the overall cost of purchasing a vehicle. Unders...
APR for Auto Loans
Annual Percentage Rate (APR) is a crucial concept to understand when considering auto loans. APR rep...
Navigating Auto Loan Interest Rates
Interest rates for auto loans play a crucial role in determining the overall cost of purchasing a ve...
Interest Rate vs. APR: Explanation & Calculator
When it comes to car loans, two essential factors to consider when finding a lender are the interest...
Car Loan Monthly Payment Calculator
Loan Amount: $ Interest Rate: Loan Term: 1 year (12 months)2 years (24 months)3 years (36 months)4 y...
How to Find Who Your Lienholder Is
Why Do I Need to Know My Car’s Lienholder? A lienholder is an individual, business, or other e...
Auto Loan Liens
It’s important to understand how liens work before taking out any loans or purchase cars so that a...
What Credit Scores Do Car Dealerships Use?
When shopping for a car, many people are concerned about credit and how it will impact their car buy...
Debt-to-Income (DTI) Ratio: Calculator & Explanation
Calculate Your Own Debt-to-Income (DTI) Ratio This calculator can help you estimate your DTI ratio b...
Payment-to-Income (PTI) Ratio: Calculator & Explanation
Calculate Your Own Payment-to-Income (PTI) Ratio This calculator can help you estimate your PTI rati...
What is a Delinquent Car Loan?
Auto Loan Delinquency Definition Auto loan delinquency refers to a borrower’s failure to make ...
Involuntary Repossession
Involuntary repossession is a legal process in which a lender takes ownership of the borrower’...
What is a Simple Interest Car Loan?
A simple interest car loan is a type of loan that uses your loan principal and daily interest rate t...
What is a Bill of Sale for a Car?
A bill of sale is a document used to transfer ownership of a car from the seller to the buyer. This ...
What Is a Buyer’s Order for a Car?
A buyer’s order is a document used when an individual decides to purchase a car from a dealer....
What is a Salvage Title Inspection?
Salvage Title Inspection A required inspection conducted by either law enforcement or a certified me...
Can I Trade in a Car Financed by Someone Else?
When you trade in a car, you are essentially selling it to the dealership and using the proceeds of ...
What is a Salvage Title Car?
Cars with salvage titles can be a great purchase for those who are looking to save money and donR...
Voluntary Repossession
What is Voluntary Repossession? Voluntary repossession is a process in which car owners choose to gi...
Cosigner vs. Co-borrower: What’s the Difference?
Cosigners and Co-borrowers for Auto Loans What Is a Car Loan Cosigner? A cosigner is someone who agr...
GAP Insurance
What is GAP Insurance? GAP insurance is an optional type of insurance coverage that is des...
Gap Insurance on an Upside Down Car Loan
GAP insurance is an optional car insurance coverage that assists in paying off your loan when: Your ...
What is Vehicle Equity?
What Does it Mean to Have Equity In Your Car? When a buyer finances a car, they are borrowing money ...
Selling a Car with Negative Equity
Can You Sell Your Car With Negative Equity on the Lien? When you take out a car loan, you don’t of...
Trading in a Car with Positive Equity
When it comes to using a car as a trade in, the equity that you have in the vehicle can either work ...
Refinancing a Car with Negative Equity
If you have negative equity on your current car loan, it means you owe more than the car is worth. Y...
What is Negative Equity on a Car Loan?
When you purchase a car, you hope that it will hold its value so that when it comes time to sell it ...
Trading in a Car with Negative Equity
When financing a car, there are many things you’ll need to consider. If you have an existing c...
Bankruptcy Trustee
What is a Bankruptcy Trustee? A bankruptcy trustee is a person that is responsible for managing the ...
Can You Buy a Car with a Credit Card?
When it comes to purchasing a vehicle, most people’s minds go straight to applying for a separ...
Credit Scores: Overview and Score Ranges
What is a Credit Score? Your credit score is an important number that lenders use to determine how m...
Self-Employed Car Loans: Requirements & Tips
A big part of getting preapproved, working through the auto financing process, and getting a loan fo...
What are Tax, Title, and License Fees (TTL) and How Much Does it Cost?
When you buy a car, there are a number of fees that are typically required in order to complete the ...
Underwater Car Loans
Being "underwater" is a common phrase to describe a car loan in which the value of the car does not ...
Upside Down Car Loans
What Does Being Upside Down on a Car Loan Mean? If you owe more on your car loan than your car is wo...
What Is a 341 Meeting?
A 341 meeting is a step in the bankruptcy process required to obtain auto financing....