Tag Archives: payments

Low interest rates and longer loan terms have been a saving grace for vehicle sales, according to Experian’s latest State of the Automotive Finance Market report. Affordability remains a challenge, however, and consumers with the top credit backgrounds are returning to the used-vehicle market for deals. Melinda Zabritski, Experian’s senior …

Used-vehicle down payments are the highest they have been since Edmunds started collecting data in 2007. Unique market conditions have led to lower interest rates, bigger down payments, less negative equity and increased cross-shopping of used vehicles, according to a statement from the company. The data shows that the average …

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it’s seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic. As unemployment soars, borrowers are putting off payments or “reallocating resources,” Credit Acceptance said in a regulatory filing …

Volkswagen Credit Inc. will waive up to six months of payments, up to $ 750 per month, for qualified customers who purchase a new vehicle and lose their job because of the coronavirus outbreak. “This global pandemic and the economic uncertainty that came with it has many of us facing …

Korean automakers Hyundai and Genesis said last week that they’ll help new car buyers who’ve lost their jobs cover car payments for up to six months on some vehicles. The program, which Hyundai first offered after the global recession in 2009, was reinstated due to the new coronavirus pandemic sweeping …

To a large degree, your credit score reflects how well you repay your debt, so timely payments on a car loan can be an effective way to build your score.* Other things affect your credit standing, too, such as how long you’ve been using credit products, but paying off an …