Auto loan delinquencies rise. What to do if you struggle with payments

Fotostorm | E+ | Getty Images For a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. While borrowers who are behind on their payments by more than 60 days r...

Loan Data Shows Exceptional Economic Health, Though HELOCs May Be Cracking

GIBBSTOWN, NJ – JANUARY 23: A truck driven by Rob Sparks of Metropolitan Asset Recovery Solutions … [+] tows a vehicle during reposession January 23, 2003 in Gibbstown, New Jersey. Statist...

Black Friday car deals are hard to come by even as prices soften

Newsday Llc | Newsday | Getty Images There was a time when Black Friday in the car-selling business meant a flurry of big sales events at dealerships whose lots were full of new vehicles. These days, ...

How your credit score affects the cost to finance a car

Tim Boyle | Bloomberg | Getty Images Although prices for new cars are moderating a bit, financing a vehicle purchase hasn’t been getting any cheaper. With the Federal Reserve’s latest inte...

What to look for in your credit report to lower borrowing costs

vitapix | E+ | Getty Images Your credit score can make or break your ability to open a credit card or buy a new car or home at attractive interest rates. To boost your score, you need to know where yo...

Buyers are paying ‘well above sticker’

Forget getting a deal; these days, anyone in the market for a new car could pay thousands over the sticker price before they drive off the lot. Limited inventory due to a persistent shortage of comput...

No Relief From High New Car And Truck Prices; Subprime Loans Hit Hardest

A dealership shopper looks at a window sticker. Getty Images There’s still no letup in sight for high new-vehicle prices, despite some factors that could dampen consumer demand — like higher interest ...

High Prices For New And Used Cars Squeeze Out Borrowers With Subprime Credit

A CarMax lot holds hundreds of used cars and trucks in Gaithersburg, Md. Getty Images Consumers with good credit are buying more used vehicles, likely because used vehicles are relatively more availab...

How the U.S. government can keep household debt in check

On Aug. 24, President Biden announced the cancellation of $10,000 in federal student loan debt for most borrowers making less than $125,000 annually. But student loans account for less than 10% of hou...

Financing a new car? How much you can save with excellent credit score

By now, you probably know that prices for new cars have been climbing at a brisk pace, along with many other consumer goods, in the midst of high inflation. The average cost of a car is an estimated $...

Financing pushes monthly cost of new cars to record $702

Skynesher | E+ | Getty Images Why drivers are spending more to buy a new vehicle The average new-car transaction in July was $45,869, according to the J.D. Power/LMC Automotive forecast. That’s ...

Consumers paying average $10,000 above ‘normal’ prices for used cars

Jim Watson | AFP | Getty Images It’s no secret that used-car prices have skyrocketed over the last two years amid an industry turned upside down by supply-chain issues and reduced new-car invent...

Dealer Profits On Auto Finance Way Up; It’s Not The Interest, It’s The Add-Ons

Auto finance is a major profit center for U.S. auto dealerships. Dealers say they make much more on … [+] products like service contracts, and not so much on their share of the customer’s ...

Memorial Day weekend car shopping is ‘looking pretty bleak’

Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends prepandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-cha...

Rising Credit Costs, Transaction Prices Slamming Auto Affordability, EV Adoption

Thin inventory at dealer lot in suburban Detroit, Mich. Ed Garsten Monthly auto loan payments are at historic highs, transaction prices continue to climb and sticker prices are losing their relevance ...

Rising interest rates mean higher borrowing costs to buy a car

Newsday Llc | Newsday | Getty Images On top of elevated prices for new and used cars, financing the purchase of one is about to get more expensive. With the Federal Reserve boosting a key interest rat...

What’s stopping Black-owned banks from thriving

Big banks and corporations like Yelp, Netflix, and Microsoft have announced major investments in Black-owned banks. Yet Black banks are far from thriving. Americans who identify solely as Black or Afr...

As Car Prices Get Higher, Auto Loans Get Longer, And Longer — And Longer

A sales lot for certified pre-owned cars, in California. Borrowers are seeking longer loan terms, to … [+] try and reduce monthly payments. Some switch to used cars. AFP via Getty Images Borrowe...

More than 80% of consumers are paying above sticker price for new car

When purchasing a new car these days, it may feel a lot like you’re giving your dealership a fat tip. To that point, 82% are paying above sticker price for new vehicles, according to new researc...

New and used car prices keep climbing. Don’t expect relief soon

When it comes to car shopping these days, sticker price may mean sticker shock. New and used car prices continue to spurt higher amid strong demand and tight inventory. While a manufacturing slowdown ...