auto loans

auto loans

Auto Sales Up on Easier Credit

June 6th, 2012 by Joshua Heckathorn

auto sales

Auto sales were up nearly 30 percent in May over the same month last last year. Meanwhile, the stock market saw its worst month in two years, consumer confidence weakened, and unemployment rates were still pitiful.

Yet, in spite of all the negative news, for some reason Americans ran out and snatched up 1.3 million cars and trucks. Why?

Ask Creditnet: How Fast Should I Pay Off My Car Loan?

February 15th, 2012 by Joshua Heckathorn

Dear Creditnet: I want to improve my credit scores, but the only type of credit I have at the moment is a car loan. I haven't used credit cards in years. I have the ability to pay off my car loan early and save money on interest, but should I keep making payments for the entire life of loan to help boost my credit scores? I know that making more payments over time is probably better for my scores, but the interest rate on this loan is really high.

Recurring Transfers: Will Your New Bank Drop the Ball?

October 7th, 2009 by Joshua Heckathorn

Juggling balls I used to have an online savings account with a popular national bank. Now, my account is with a different bank I happen to despise due to several poor customer service experiences. Of course, I didn't choose to take my business to this new bank. My old bank happened to tank in grand fashion and its competitor gobbled it up before things got even worse. I should just be happy that all is well and my savings are safe, right?

Auto Loan Rejection: Great Credit, but Insufficient Credit Mix

August 9th, 2009 by Joshua Heckathorn

A friend of mine from Southern California (let's call him Alex) recently left me a voicemail claiming to have a few questions about credit. When I caught up with Alex a few days later, he was quite upset because he had just been rejected for an auto loan from the national bank he's frequented for years.

He had his heart set on purchasing this car, and he just couldn't figure out why the bank would decline his loan. He even tried a different bank where he had some family connections; however, the result was the same - declined due to "insufficient credit mix".