Personal Finance

Auto Loan Amortization In Plan English

Amortized car loans are very popular for many important reasons. They reduce credit risk, lock in a good interest rate, produce a stable monthly payment and set a specific number of months in which the loan will ultimately be paid off. Loan ‘Amortization’ is the breaking down of a loan and the associated interest into …

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What Is The Average Monthly Car Payment?

If you’re wondering “what is the average monthly car payment” each month, then, good news, you’re in the right place! To answer your question, we need to look at what we mean by “average.” Let me explain…. Per Experian’s 2018 first-quarter data, the average new car payment is $523. I don’t know about you, but …

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car repossession

Car Repossession Basics

What can I do about my Auto Repossession?   What happens when your car gets repossessed? Nobody wants to have his or her car repossessed. The situation is stressful, potentially embarrassing and can leave you without transportation and a lot of unanswered questions. Auto repossession is also often an unexpected event, which can leave you …

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simple budget for an auto loan

A How-To Guide for Setting Up a Simple Budget

How This Simple Budget Works What good will a simple budget do for my money problems? How can I afford a car payment and keep up with the monthly rent? People may ask, “Why do I need a personal budget for paying my bills?” “What is the advantage?” Though initially, it takes some thought and …

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upside down car loan

Sensible Help For Upside Down Car Loans

Trading in an upside down car loan or trading in a car that is worth less than you owe on the loan can cause financial problems. This is a trap that vehicle owners should do their best to avoid without proper knowledge of the long-term effects. Even if you are offered a low-interest car loan …

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