When you shop for a car, auto lenders work with your auto dealer to offer you financing for your loan. Auto lenders consider the terms of your loan, your...
Yes, just like the price of the vehicle, the interest rate is negotiable. Dealers might not offer you the lowest rate that you qualify for. To get the best interest rate, shop around with multiple lenders and negotiate.
Don’t let deceptive car ads mislead you when it comes to trading in a car.
Get answers to frequently asked auto loan questions.
Harry noticed that his son Ari, a servicemember, was struggling with his car loan, so he reached out to the Bureau. His story led to our investigation into...
How to have a money talk with your young child, preteen, or teenager about buying a car.
GAP is an optional product that is intended to cover the difference between the amount you owe on your auto loan and the amount the insurance company pays if your car is stolen or totaled. Standard auto insurance only pays an amount up to the value of your vehicle. GAP is supposed to cover the loss you would suffer if your loan balance is higher than the value of the vehicle.
When you’re shopping for a new auto loan, it’s important to know the right questions to ask.
The Consumer Financial Protection Bureau (CFPB) today ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.
First, find out how much you still owe and what the trade-in value is. Rolling the balance of your existing loan into your new auto loan could make your new loan more expensive.
The base price of a car generally doesn’t include optional add-on products and features, as well as other costs and fees that will make up the total cost of your car.
This dashboard provides access to data about car loans, which are closed-end loans used by consumers to finance the purchase of a new or used auto, where the auto is used as collateral for the loan.
When comparing auto loan offers, look at the annual percentage rate, the interest rate, the length of the loan, and the total amount financed.
On January 4, 2023, the Bureau and New York Attorney General Letitia James filed a joint lawsuit in the United States District Court for the Southern District of New York against Credit Acceptance Corporation, an indirect auto lender that funds and services car loans for subprime and deep-subprime consumers.
Depending on your state’s law, you might be able to make up your overdue payments to get back your repossessed car, and you might also have the opportunity to buy it back before it’s sold.
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...
Your contract and state law will determine whether you can pay off your auto loan early.
You should shop and compare insurance options before buying a car or vehicle. You may encounter a variety of insurance and credit protection products when financing a vehicle.
Co-signing gives your lender more confidence that the loan will be repaid. You may get a better interest rate with a co-signer.
Six-Year Auto Loans Carry Higher Costs and Higher Default Rates than Five-Year Auto Loans.
