First African-American Will Head Regional Federal Reserve Bank
ATLANTA Raphael Bostic will make history on June 5 when he becomes the first African-American to serve as the president and CEO of the Federal Reserve Bank of Atlanta. Bostic is a 1987 Harvard University grad, and a New Jersey native who earned his doctorate in economics from Stanford University in 1995. He will succeed …
What Are the Differences Between Mortgage Loans and Auto Loans?
Most consumers eventually end up filing for two common types of loans: auto loans and mortgage loans. However, experience with one won't prepare you to apply for the other.
Bank Statement Loans and How They Benefit Your Clientele
By Dawn Ferreiro (NMLS 514152), Service First Mortgage and Member, CCAR’s REALTOR®/Lender Committee One of the most common reasons that self-employed borrowers are unable to obtain mortgage financing is due to the nature of their tax returns, and specifically how much they are able to write-off on their return in relation to their reported profits. Read More
Mortgages, auto loans and credit card debt: How the poor are fuelling the booming U.S. economy
With borrowing costs rising and effects of tax cuts set to wear off, a shock could push the most vulnerable over the edge, and take the recovery with them
How do auto loans work?
So how do auto loans work? Since most people buying a new or used car opt for financing it’s an important question, and understanding the answer will help you in the purchase process.…
How to Refinance Your Auto Loan?
By Dean Shaw · On August 5, 2019 If you have a car loan, you might have found yourself in a situation where your monthly payments exceed your budget. That’s when refinancing an auto loan can come to your rescue. Usually, refinancing a car loan reduces your monthly payments and makes it easier to pay off that debt faster Before getting into the nitty-gritty of refinancing a car loan, let’s understand when is the right time to refinance your auto loan. When to…
Personal References for an Auto Loan
What sort of reference requirements do dealers and lenders require when buying or leasing a car with an auto loan? We discuss what information you need for a...
5 Tips for Getting an Auto Loan
Getting an auto loan can be stressful and cost you more than you ever thought it would. At Idaho Central Credit Union we are here to help members achieve financial success and getting the right auto loan is critical in doing that.
Auto Loan Fraud Is Starting To Look More And More Like What Happened With Mortgages
Several weeks ago, we mentioned how investors are getting nervous because the number of “deep-subprime” loans—that is, those given to consumers with credit scores below the 550 FICO range—are rapidly increasing. Well, here’s another potential point of concern: borrower fraud in U.S. auto loans is also surging, according to Bloomberg, to a rate last seen with mortgages during the mid-2000s housing bubble.
Why 2 banks are pursuing margins, not auto loan volume
At a time when industry watchers are fretting over rising risk in auto lending, two big regional banks are dialing back on auto volume in pursuit of higher margin business, with one bank shunning risk and raising loan pricing and the other purposely taking on slightly riskier loans.
How to Get the Best Auto Loan Rates
Do you know how to find the best auto loan rates? We've outlined some tips here to help guide you through the process.
How Auto Loan Interest Rates Work
Buying a car is a major event in a person’s life and usually requires a significant amount of money. Since many people may not have $31,400 — the average price of a new car — sitting in the bank, it may be necessary to finance. While many automakers offer special financing and deals multiple times […]
10 lowest auto loan interest rates in the U.S.
America is taking out auto loans again, but it's far more worthwhile to do so in some corners of the country than in others.
Refinancing Auto Loans 101
Auto loan refinance can be a smart move in the right situations. By receiving a lower rate, you could cut your interest costs, reduce your monthly payment.
How to Use an Auto Loan to Rebuild Your Credit
In a recent article, we provided three steps to rebuilding your credit. One concept we stressed is having a mix of credit—both installment credit and revolving credit. Among the fastest ways to rebuild your credit, we said, is with a car loan. A form of an installment loan, it’s payable in monthly installments over a set number of months. And, that payment history is the way in which you rebuild your credit. There are three steps to this process 1. Getting Your Auto…
5 Common Auto Loan Myths Debunked
Americans take out millions of dollars in auto loans each year. Because these loans are so popular, they also tend to be the subject of many widespread financial myths. At Sioux Falls Fed, we hear these myths all the time from our members, and we decided that it’s time to set the record straight.
Tips and Advice on Taking Out Auto Loans
Get expert advice on saving money on your auto loan
Tips for Applying for an Auto Loan
Applying for a loan of any kind can feel stressful and daunting. You might be unsure of what kind of rates you will get and be wondering if you will be able to handle your payments. However, sometimes moments come up in life where we don’t have a choice but to take out a loan. Buying a car is a great example of this. In today’s world we need cars to get by and sometimes the only way to get a reliable vehicle…
How to Save Big on Auto Insurance
Nationwide, a Texas REALTORS® benefits partner, offers exclusive auto insurance discounts to mem...