auto loans

Year-End Debt Checkup: Make Sure Yours Is Healthy Debt

Not all debt is created equal. And even in today's low interest rate climate, too much of the wrong kind of debt can quickly snowball. So as you consider your overall financial picture, make sure you only take on healthy debt -- and even then, only if you can afford it.

What's Behind Rising Auto Sales? Cheap Financing

Want a cheap car loan? How about a free one? Believe it or not, more and more car buyers are being offered 0% interest loans, and almost everyone else can now get cheap financing -- even folks with less-than-perfect credit.

Lousy Credit? Need a Car Loan? No Problem!

Banks are still being pretty stingy about extending credit these days, when it comes to things like credit cards and mortgages. But there's one big exception: Banks are giving out car loans like they're going out of style.

US Consumers Upped Their Borrowing in March

U.S. consumers swiped their credit cards more often in March and took out more loans to attend school, driving overall borrowing up by the most in more than a decade. Total consumer borrowing rose $21.4 billion in March, the Federal Reserve said Monday. That's the seventh straight monthly increase and the largest since November 2001.

Car Loans Are Now Americans' No. 1 Bill-Paying Priority

The recession and its hangover have turned our bill-paying habits upside down. Cash-strapped Americans are paying off their car loans before they pay credit card bills and make mortgage payments, a TransUnion study finds.

What Today's Booming Auto Sales Mean for Car Shoppers

U.S. car sales just hit their highest level in four years, and that's good news for economy watchers. Falling unemployment, more cooperative lenders, and rising consumer confidence all contributed to the boom. So if you're looking to buy, what does this all mean for you?

Paying Off Our Plastic Is Killing the Economy

Here's the good news: American consumers are finally starting to reduce their reliance on credit and pay off their high-interest debt -- a positive development for their financial futures. The bad news: More money in people's pockets means less overall spending in the economy, which desperately needs the cash right now. How might the tension be resolved?

Putting Consumer Debt Into a Bigger Perpsective

Before the Great Recession, U.S. consumer debt had risen fairly steadily for more than a decade. With the downturn, it finally dropped...until December's small rise. However, a longer look at the trend of ever-rising debt shows that America is still extraordinarily overextended.

Consumer Credit Rises Again: Is U.S. Releveraging?

After two years of relative frugality caused by the financial crisis, Americans are again borrowing in a big way. Consumer spending is surely good for the economy, but have Americans learned any lessons about loading up on the red ink?

Eight Car Buying Tips You Need to Know

Auto dealers and finance companies are beginning to loosen up the restrictions on consumer credit that helped to clamp down auto sales starting in...

Consumer Debt Jumps, But Credit Card Use Falls

U.S. consumers appear to be getting bit less frugal: The amount of consumer credit in use unexpectedly rose in October for the second straight month. But the whole rise came from non-revolving debt, which includes auto loans and personal loans, while revolving debt, which includes credit cards, plunged.

More Car Loans Go to Borrowers With Bad Credit

If you've been rejected for a car loan due to poor credit, you might want to apply again. The automotive credit industry increased the share of new car loans going to credit-challenged borrowers by 12.7% in the third quarter, a sign that lenders are loosening their credit criteria.

Consumers Borrow More for New Cars, Student Loans

Consumer credit unexpectedly rose by $2.1 billion in September, but the rise is only a partial victory for those who argue that credit expansion is required for the U.S. economy to return to a normal growth rate, because credit card debt fell for the second straight month. If that decreased plastic use continues this fall, it will likely weigh on retailers%u2019 holiday shopping revenue.

Consumer Debt Falls for Seventh Straight Month

Total consumer debt fell by $3.3 billion in August. And as in July, declining revolving debt, which includes credit cards, accounted for the entire drop. The trend could keep GDP in check, but long term, it's a positive development.

Toyota to Offer Rebates on Lexus Models to Boost Sales

Seeking to boost sales of Lexus brand vehicles, Toyota plans to offer rebates of up to $3,000, as well as subsidized financing on certain models, company executives told a gathering of Lexus dealers from across the country this week.

GM's a Day Away From Making Its Own Car Loans Again

General Motors will once again have its own in-house financing unit starting Friday, when the auto giant closes on its $3.5 billion purchase of AmeriCredit. The new unit, to be renamed General Motors Financial, will allow GM to offer consumers more financing and leasing options.

GM Looks Set to Report Another Profit

Three months after turning profitable since its bankruptcy, GM CEO Ed Whitacre is expected to report it made even bigger profits -- perhaps in excess of $1 billion -- during the second quarter when it releases its latest results on Thursday.

Consumer Credit Use Falls for Fifth Straight Month

Consumer credit use fell another $1.3 billion in June, the Federal Reserve said, as Americans once again kept their credit cards in their wallets. But the belt tightening was less than expected: Economists had predicted credit would contract by $5 billion.

Millions of Americans See Credit Scores Plummet

Millions of Americans are seeing their credit scores plunge. According to FICO, 25.5% of consumers -- roughly 43.4 million people -- have a credit score below 600, making them a poor risk for lenders, and making it hard for those consumers to get credit cards, auto loans and mortgages.