Jenna and Marcus Split Up in June. Both Their Names Are Still on the $31,000 Car Loan.
A divorce decree does not take your name off a car loan. Only the lender can do that, and almost always the only way…
Loans
She Requested a Free Skip-a-Payment on Her Car Loan. It Added $224.95 to What She Owed and Pushed the Payoff Out a Month.
A skip-a-payment offer sounds like a favor from the lender. Interest never stops, a fee is common, and the missed payment lands at the…
She Paid $200 Extra a Month for a Year. Her Precomputed Loan’s Payoff Barely Moved.
A driver paid an extra $200 a month for a year and called for a payoff quote expecting a big drop. On a precomputed…
Auto Refinance Savings Hit $102 a Month at Credit Unions Last Quarter. Marissa’s Own Math Landed at $73.
New Experian data shows what auto loan refinancing actually saved drivers last quarter, broken down by lender type, plus a full worked example on…
She Rolled $5,073 of Negative Equity Into Her Next Auto Loan. The Lender’s 125% Ceiling Still Left $2,636 She Had to Pay in Cash.
A rolled-over negative equity balance only moves through the next loan if it fits under the lender's loan-to-value ceiling, and that ceiling is a…
The Finance Manager Said “It’s Your Credit” and Sent Him Home. Nine Days Later, a Letter Named Four Specific Reasons He Never Mentioned.
A dealership finance manager can turn you down with one word. Federal law says the written notice that follows has to say a lot…
What Actually Triggers a Repossession? The Contract Clause Most Borrowers Never Read
Repossession isn't triggered by a fixed number of missed payments, it's triggered by contract default. Here's what that means in states with and without…
The Refinance Application Never Reached Her Credit Score. Her Loan-to-Value Ratio Killed It First.
Danielle Brooks had a 740 credit score and a clean payment history. Her refinance was declined anyway, on a number that had nothing to…
The Auto Loan Interest Deduction Only Works on Some Cars. Here’s the Math on Yours.
A driver refinancing into a new SUV this year assumes the $10,000 deduction covers any loan. It doesn't. The vehicle has to be new,…
A Used Car Can Cost $8,000 Less and Still Charge You More Interest Than a New One
Marcus found a used version of the SUV he wanted for $8,000 less. Then he read both loan sheets and learned the cheaper car…