article thumbnail

1 In 5 New Car Buyers Took On $1,000+ Monthly Payments In Q4

Carscoops

months as down payments fell to $6,856 last quarter. Used car loans average $28,675 with more manageable $533 payments but sky-high 11% APRs. With the cost of financing skyrocketing, analysts are advising potential buyers to consider alternatives, such as used cars or new EV leases, to keep their budgets in check.

article thumbnail

Used-Car Manager Loses It, Attacks Film Crew Over $1,500 Non-Refundable Test Drive Deposit

Carscoops

As the finance manager, he reportedly took cash down payments and funneled them into three credit cards not registered in his name. They never gave me proof of purchase and it wasn’t fully finalized the finance company didn’t even know I had the car! They took my down payment and won’t give it back.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Upstart Unveils Enhanced Showroom, Financing Solutions

AutoSuccessOnline

Upstart announced the largest and most significant set of product enhancements to the in-store and financing solutions on its Auto Retail platform. The enhancements empower dealerships to more easily configure and efficiently manage the sales process, desk deals, streamline financing workflows and close sales more quickly.

Finance 52
article thumbnail

Media post: How to Qualify for Vehicle Finance as a First-Time Buyer

Best Selling Cars Blog

Dreaming of that new car smell but worried about financing as a first-time buyer? Let’s break down how you can qualify for vehicle finance and make that dream a reality. What Is Vehicle Finance? Simply put, vehicle finance is a loan specifically for buying a car. . Don’t sweat it!

Finance 130
article thumbnail

The Best Financing Options for Used Cars in Fredericksburg, VA

Carcloud Auto Group

Finding affordable and reliable used car financing in Fredericksburg, VA can be challenging, but Car Cloud Auto Group makes it simple. Located near Fredericksburg , our dealership specializes in helping customers find financing solutions tailored to their needs. Why Choose Car Cloud Auto Group?

Finance 52
article thumbnail

When you DO or DON’T need Gap Insurance💰🚙

Your Car Buying Advocate

You might not need it for shorter loans or if you’re making a large down payment. You don’t need to buy it in the finance office if you’re unsure if you need it. It’s not necessary if you put money down, trade in a car, or choose a shorter loan term like 36 or 48 months. Imagine you finance a car.

article thumbnail

The Pros and Cons of Low Down Payment in Used Car Finance

MforceLA

Used car finance is a tricky process. Several critical variables jump into the finance equation, from interest rates to monthly payment terms. When looking for used cars for sale, understanding the finance terms and conditions beforehand is crucial. This can also help you in terms of your credit score.