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Vehicle Related

New Car Prices and Payments Set Records

buying car

Experian Automotive announced that the average amount financed and the average monthly payment for a new vehicle continued to climb, breaking the previous records on file. According to its latest State of the Automotive Finance Market report, the average amount financed for a new vehicle in Q4 2015 was $29,551, up $1,170 from Q4 last year, and the average monthly ... Read More »

I Don’t Give a Damn About My Credit, Said Almost No Car Buyer

buying car

The credit report folks, Experian have released data which surprised even me. There are whole camps of people out there, typically Dave Ramsey fans, who say they don’t need credit and don’t plan to ever use credit again. But according to Experian, 84% of people who purchase new vehicles actually do use credit. Credit avoiders can talk a big game ... Read More »

Car Title Lenders Deceived Consumers Says FTC

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The Federal Trade Commission has taken action for the first time against two car title lenders, reaching settlements that will require them to stop their use of deceptive advertising to market title loans. A car title loan is typically a high cost, short-term loan, secured with the consumer’s car title. In administrative complaints issued against two title lenders, First American ... Read More »

Perpetuating Poverty: Exploitative Businesses, the Urban Poor, and the Failure of Liberal Reform

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Here is a new paper out that may be of interest to all who want to know more about rent-to-own, payday lending and the title loan business. David Papke from the Marquette University Law School is to be commended for this paper. “This article scrutinizes the rent-to-own, payday lending, and title pawn businesses – all of which target and exploit ... Read More »

All About Buy Here – Pay Here Vehicle Financing

Cheerful female driver huging her new car

In-house financing car dealerships provide car loan options to customers and facilitate the purchase of a vehicle. There are a number of things you should watch out for and understand before signing loan agreements at a dealership. Advantages of In-House Financing The primary advantages of in-house financing with an auto dealership directly apply to people whom outside lenders may consider ... Read More »

3 Car Buying Financial Potholes to Avoid

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Buying a car is a very expensive proposition. Besides buying a home – buying a car or truck is typically the second largest asset people purchase. And those car payments can really add up to a budget buster if you are not careful. There is no need to wind up paying more than you have to. When going to buy ... Read More »

Looks Like 2013 is Going to be the Year of Easy Car Financing

Happy new car buyer. Hope you love those new monthly payments.

New forecasts are out that indicate cars will be the product to buy in 2013. Along with the amount estimated that consumers will borrow in car loans and the estimated very low default rates, my bet is that new car financing will be much easier to get in 2013. TransUnion released its annual national auto loan delinquency forecast today indicating ... Read More »

Don’t Be Fooled by This Vehicle Extended Warranty Mailer from Vehicle Protection Center

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Update 4-10-2015: Lyle Cameron sent in an error report on this story and said, “This company is not a scam and only uses top administrators in the Vehicle Service Contract industry. Not to remove the post but to correct the information here and an apology from the creator for spreading information that isn’t true.” He did not indicate what information ... Read More »

How Can I Afford a Used Car On a Beater Budget?

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Dear Dollar Stretcher, I’d like to get a good used car without going in the poor house! We have 3 school-aged children. Our old Ford pickup doesn’t have room for them. I wanted to spend $5,000 or less and don’t want car payments. Do you have any ides where to look besides the newspaper? Kevin S. Buying a good used ... Read More »

Title Loan Lender Fast Auto Loans Sued in WV

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In an effort to protect West Virginians from the abusive and unlawful harassment and triple-digit interest rates of a predatory out-of-state title loan company, West Virginia Attorney General Darrell McGraw today filed suit in the Circuit Court of Jefferson County against Virginia-based Fast Auto Loans, Inc., its parent company, Community Loans of America, headquartered in Atlanta, and its owner Robert ... Read More »

File Bankruptcy — But Keep Your Car for Much Less Than You Owe

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The following article was submitted by Attorney Steven Elmer from 722Redemption.com to help people learn how it may be possible to keep their car or truck after bankruptcy for far less than the current amount owed. In Chapter 7 bankruptcy, debtors have three main options regarding financed personal property items. They can surrender, reaffirm, or redeem the item. When choosing ... Read More »

Anyone Surprised by This? Companies Claiming to Stop Auto Repossessions Smacked by FTC.

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The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. The FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on bogus promises that they could reduce consumers’ monthly car loan payments and help avoid repossession ... Read More »

US Fidelis, Darain Atkinson, Cory Atkinson – All Indicted by Grand Jury

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Attorney General Chris Koster yesterday announced a St. Charles County grand jury has handed down a 14-count indictment against Darain Atkinson and a 13-count indictment against Cory Atkinson, the brothers who owned and operated US Fidelis. US Fidelis was formerly known as National Auto Warranty Services and did business under the name “Dealer Services.” The indictments include felony charges of ... Read More »

Libyan Embassy Loses Two Cars to Repo

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Apparently times are tougher for Libya right now than you might think. The Libyan embassy in Kampala, Uganda has had two of their luxury cars repossessed by the bank and they are scheduled for sale on May 10. The Libyan Arab People Bureau (embassy) is identified in the notice as the debtor. The attached cars were used by Mr Abdallah ... Read More »

MO AG Wants to Crack Down on Bad Actors in Auto Service Contract Industry

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Missouri Attorney General Chris Koster recently released a report from his Auto Service Contract Task Force. The group was looking at the deceptive practices of members of the auto service contract and auto warranty business. As part of the data gathering the task force heard from consumers. Donna Acosta Donna Acosta purchased her contract from US Fidelis, Inc., formerly known ... Read More »

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