Certainly when looking at cars, you've struggled with the difference between a getting a car loan for a car that is new and getting a car loan for a car that is simply new to you. For those of you with a hankering to buy something new, take a look at the How Fast Does A New Car Lose Value Calculator on Edmonds.com below to find out how much your brand new car will be worth after a few years. 

This post brings back some memories of growing up with Hollywood as another family member.  The movies were another world to me, and the cars in them fixtures that I assumed were real and otherworldly.  Of course when you grow up it is a bit disappointing to find out that your childhood icons were based on, not cars born out of the heavens, but cars assembled in a plant by a guy named Mac and modified by a set designer named Biff. 

What do you think?  Would it be possible to get an auto loan for one of these puppies? If so, I'm in for the truck to the left. Let's see if you can guess what movie the picture is from.  

If you haven't seen this video, welcome to 9 months ago. Still greatness. And for those of you with kiddos looking to get a car loan, the swagger wagon might be it for you. Check it out!

In a "one-year race to design an ultra-efficient car that's 'safe, affordable, and desirable'", it was a gasoline engine that took home the $5million prize.  The winner came in with a rating of 100 mpg, which is good news for political groups wanting to up the minimum requirement for new vehicles, not due to be changed until 2025.  Although these cars aren't quite ready for the road, I look forward to the day when everyone can drive one.  A car loan will be much easier to pay off when a tank of gas lasts forever.  See the article here.

Repo Men, or "recovery agents," as they are known in the business, are apparently nice guys.  According to an article from Edmunds, "not all repo agents have the tats and missing teeth," said Jeff Huang, formerly in the subprime division of a Los Angeles bank. "They are hard-working Americans like you and me."  That's nice to know, but I still don't want to meet one when he's on the job looking for my car. 

In an economy where auto loans are becoming riskier, repossession is an ever present possibility for many.  Whether buying used cars or new ones, it is crucial to understand that auto finance first and foremost means that your car is basically being loaned to you by a bank until you pay it off.  Hence the name RE-possess, which has the idea of possessing something again.  The bank is simply getting back it's property.

To understand more about repossessions, including what your rights are and what you should do, read the article here. It does not seem to be the kind of position you want to be in, and so as the article says, "get out your car payment book and make sure you're up to date. If not, it's time to 'make yourself whole' again."

 Let the repo man stay in the world of stereotypes and out of your driveway!  

Hopefully you've already discovered the Road Loans car loan calculator and have put it to good use.  But what about the math behind it?  What does it all mean?  Check out this great eHow article to find out! 

According to an article from Edmunds.com, auto loans for people with bad credit are on the rise, which is a hopeful sign of things to come.  "Lenders might be relaxing their restrictions because borrowers are being less flaky: Automotive loan delinquencies dropped during the second quarter of this year, marking the second consecutive quarter of year-over-year decreases in quarterly delinquencies."

Here are some other interesting statistics from the article:

• The average credit score for purchasers of a new vehicle fell two points, from 774 in the second quarter of 2009 to 772 in the second quarter of this year. The average credit score for purchasers of a used vehicle rose two points, from 677 in the second quarter of 2009 to 679 in the second quarter of 2010.
• The average amount financed for a new vehicle jumped by $883 to $25,222. The average amount financed for a used vehicle jumped by$1,027 to $16,581.
• The states with the highest average credit scores for consumers applying for new vehicle loans were Minnesota (803), Wisconsin (796), Iowa (795), Nebraska (791) and Montana (789).
• The states with the lowest average credit scores for consumers applying for new vehicle loans were Mississippi (749), Nevada (750), Louisiana (751), Texas (752) and North Carolina (759).

 

Ahh the GMC Acadia.  Strong and attractive exterior, plenty of interior room with ample cargo capacity; family friendly; easy to drive; extensive standard features; great for on-road and severe weather conditions.  I test drove one of these when we were looking for a new SUV.  I have to say it is extremely roomy on the inside, especially as small as it looks from the outside. Could you see yourself in one of these?  It might be easier than you think.  Head on over to Road Loans and see about getting an auto loan for this bad boy.