Our latest Data Point report takes an in-depth look at the different types of auto lenders, the interest rates they charge, and the correlations between the interest rates they charge and the rates of default among their subprime borrowers.
Credit access declined during the pandemic for credit cards, but increased for mortgages and auto loans
This post is the fifth in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Access to new credit cards has decreased, but access to mortgages and auto loans has increased since the start of the pandemic.
A consumer advisory from the CFPB’s Office of Servicemember Affairs on the SCRA waiver rights and updates to lease termination notification options.
This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.
New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.
In this update to our May 2020 report examining the effects of the COVID-19 Pandemic on credit applications, we find that credit card inquiries were still 30 percent below their pre-pandemic levels in September, while auto loans were depressed by 20 percent.
Tips for staying on top of your finances during the coronavirus pandemic, particularly if you’ve dodged income loss or major expenses.
Consejos para que se mantenga al día con sus finanzas durante la pandemia del coronavirus, particularmente si no ha perdido sus ingresos o no ha tenido grandes gastos.
¿Le preocupa no poder hacer los pagos del préstamo de su coche? Su prestamista puede tener opciones para ayudarle
Si temporalmente está pasando por alguna dificultad financiera que le dificulta hacer los pagos mensuales del préstamo de su coche, su prestamista podría ayudarle a recuperarse. Le mostramos cómo evaluar las opciones disponibles y encontrar así, la mejor forma de evitar atrasarse en su préstamo de automóvil.
If a temporary financial hardship has you struggling to make your monthly car payments, your auto loan lender may be able to help you while you get back on your feet. Here’s how to weigh your options and find the best way to avoid falling behind on your car loan.
Servicemembers, arm yourself with basic car buying skills—Stand your guard when it comes to add-on products
When you buy a car, the dealer might offer you optional products or services known as “add-ons”— which could break your budget. Here’s what you need to know.
Don’t let deceptive car ads mislead you when it comes to trading in a car.
Servicemembers should take precautions when buying a car. This is the second post in our blog series with the Federal Trade Commission on buying a car for servicemembers.
Servicemembers should take precautions when buying a car. This is the first post in our blog series with the Federal Trade Commission for servicemembers on buying a car.
9 problemas financieros comunes después de un desastre natural y lo que puede hacer para enfrentarlos
Asistencia para aquellas personas que tienen dificultades financieras luego de un desastre natural, incluyendo información acerca de cómo obtener ayuda y de cómo trabajar con bancos y prestamistas para solucionar sus problemas.
Help for people struggling financially after a natural disaster, including information on how to get help and ways to work with banks and lenders.
Use our resources to make more informed decisions when taking out loans.
If you are behind on your auto loan payments, it’s important to take steps to reduce the chance of falling further behind.
We recently published our Consumer Response Annual Report, which provides an overview of the complaints we received in 2016.
Having access to a vehicle can be a lifeline for you and your family if you have limited resources. Before choosing an auto loan, learn four ways you can protect yourself from an auto loan you can’t afford.
Since auto loans are a part of the financial lives of so many consumers, we wanted to learn more about their experiences and challenges in navigating the process of getting an auto loan. Read more about our report: Consumer Voices on Automobile Financing.
When it comes to financing an auto loan, servicemembers should be armed with knowledge about loan choices and what can be negotiated, and should take precautions when entering loan agreements for vehicles. They are often targets of misleading ads or tactics, and inaccurate explanations of benefits.
If you co-sign an auto loan, you will be responsible for making payments if the primary borrower can’t pay. It could affect your future access to credit and your overall credit score. Here are some tips for co-signers and a new auto loan resource for you. Share it with your co-borrower so you can shop for a loan that works for both of you.
Take control of your auto loan process. Explore our new auto loan resources and keep these 6 tips in mind.