What Used Car Financing Does for You

You probably wish you had stacks of cash stuffed under your mattress at home. You could eat at all the fancy restaurants and shop designer boutiques. Buying a car would be no big deal at all - you'd just hand over a stack of Benjamins. But that's not the case for anyone, really. Like most normal people, buying a pre-owned car is a stepping stone in life, and to do so you'll need used car financing.There's no shame in getting used car financing to buy your pre-owned vehicle. On the contrary, being able to get financing and make your payments is a sign that you're financially stable, unlike many others around you. There are benefits to getting a loan for your used car too.

Can You Buy a Used Car with Bad Credit?

It's easy to earn yourself a less-than-perfect credit rating. Few missed payments, an over-extended credit card, or defaulting on a loan can all help you find your way to a bad credit rating. A few financial indiscretions can follow you around for seven years or even longer, troubling you whenever you need a helping hand. So when you go to buy a car, it's natural to wonder if your bad credit will prevent you from buying a used car.

Let's Talk About Phil's Money Problems

Phil is a great guy. He's the responsible, quiet guy that always seems to have it together. He has a wife, two kids, went to grad school and got his dream office job right away. Phil is the guy everyone wants to be, but he has money problems.It's not what you think, though. Phil didn't let the money get to his head. Phil is a clean-living, upstanding sort. His problem all comes from something you wouldn't expect and, frankly, Phil didn't see coming. It's credit fraud that put Phil in trouble.Phil is the victim.

3 Ways to Improve Your Credit Rating Quickly

You've heard for a long time that credit issues stay on your credit report for years. That's true, and it's for a good reason. Getting credit from a lender isn't something you are entitled to. It's given because you've earned it, and it's hard work to get to that point. For many people, learning that lesson comes the hard way. Along with that lesson comes a substandard credit rating, and it truly can take years to recover.It doesn't have to be a major hurdle for years, though. Even if you have a few blemishes on your credit rating, it's possible to get financing from good lenders sooner than you think. That means lenders who won't overcharge you on interest and will offer terms you can live with. After all, you need a car loan that you can repay, not one that will further damage your credit rating.Get started rebuilding your credit today. Here are three easy tips to improve your credit rating within a short time frame.

5 Steps Before You Buy a Car with Bad Credit

Sometimes it's just a few bad decisions that have a long-lasting result. You may have skipped a few bills or forgotten to pay a ticket that went to collections. Other times, it's a wrench thrown into your plans that's completely unexpected. A death in the family, a split from your spouse, or job loss. But no matter how you got there, you still have bad credit. And now, you're feeling the pain when you try to buy a car with bad credit.It's not impossible to buy a car with bad credit, even though it feels like it at times. But you can do a few things to help make getting a loan approval easier.

How to Fix Negative Equity in a Car Loan

Unfortunately, cars depreciate in value. Other than real estate, few things in life gain in value over time. In North America, millions of car owners every year discover that depreciation the hard way. They find out they have negative equity, or are "upside down", in their car loan.Are you unfamiliar with the term? It's pretty simple, actually. Negative equity means that your car is worth less than you owe on your car loan. Does that make your jaw drop? Don't be so surprised - it could be the case for you too.

Opposites Attract in Marriage and Credit. Here's How

It's often said that opposites attract. It's usually referring to someone's love life. Sometimes it's an outgoing A-type personality that seeks out quiet, shy people to hang around. Or, a slender person looks for a larger companion to date.There are reasons for every situation, from a feeling of safety to a feeling of excitement or even danger. That's all well and good, and opposites attracting is a natural phenomenon that seems to work for many.

An Auto Loan Calculator Could Lead You Astray, and Here's Why

You're credit challenged in some fashion. It means different things to different people. It's a run of late payments for some people, collection agencies calling for others. It may be a bankruptcy or an ex that took you to the cleaners in a divorce settlement. Or, you might have no credit of your own. Yet, when you're shopping for a car, an auto loan calculator is the first tool that lenders offer. That's a problem.

How Much Car Can I Afford?

Seldom are you able to go where you want to and do the things you want to do without a car. You need to buy a car, much sooner rather than later. But whether financial matters are your strong point or not, it's quite difficult to know what the lenders are looking for when you apply for a car loan. You find yourself Googling, 'How much car can I afford' in hopes that your magic answer is much simpler than it seems.Unfortunately, for most people the answer isn't clear at all. And to complicate matters, there's other responsibilities in life that get in the way. A mortgage payment that's higher than you wanted, an unexpected insurance deductible or speeding ticket - you hadn't counted on those costs. Cash is tight, but the need for a car isn't going away.

What kind of down payment do I need to finance a car?

A car commercial comes across the TV screen. In big, bold numbers, the 'low monthly payment' grabs your attention. Can you really buy the car for so little? Of course, what you DON'T see is the fine print at the bottom of the screen. It tells you the payment doesn't include taxes or dealer fees. It also says that X amount is due for down payment.But do you really need a certain amount for a down payment? How do you know if it's a requirement?