Protect yourself. Read these important car-buying tips before you sign!
As Financial Literacy Month wraps up, let’s look at one of the most important steps in buying a car: getting vehicle financing. You've identified the vehicle you want, you've asked all the right questions, you understand how to read a contract: now you need to figure out the best way to pay for your vehicle.
We contacted two experts on vehicle financing, George Iny and John Raymond from the Automobile Protection Agency (APA) to answer some common questions car buyers have.
For the last week of Financial Literacy Month, we’re continuing our discussion on vehicle financing with experts from the Automobile Protection Agency (APA). We’re looking at two issues: long-term loans and financing a vehicle if you buy a car privately.
The majority of consumers borrow money for a vehicle purchase. Some choose to use a personal line of credit or arrange financing at their bank or credit union, but many have the dealer arrange the financing. This often makes sense—dealers have access to numerous lenders that may provide terms or rates unavailable elsewhere. But this doesn’t mean consumers shouldn’t carefully consider what is being offered and take steps to ensure they are getting the best possible finance rate and terms.
When you owe more for a car than what it's worth, you have negative equity. Follow our infographic to find out how easily it can happen.
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