Car loans

Tips, best practices for buying a new or used car

Many people take owning a car for granted until they don’t own one. Having your own mode of transportation is ideal because you don’t need to depend on someone else to drive you around. You don’t need to live your life according to bus schedules. You can go places whenever you want. If you’re thinking about buying new or used wheels, here are several key considerations and tips to help you make a financially sound decision. Decide if you’re going to purchase a new or used car. It’s important because there are pros and cons to each option. A new vehicle is less likely to have mechanical problems and, as a new vehicle, will be accident-free. With rare exceptions, a

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Blinker expands into California, Florida, offers new protection

Blinker, the only peer-to-peer e-commerce platform that provides an end-to-end solution for buying, selling or financing cars, has announced two new components its business. Headquartered in Denver, Colo., Blinker is expanding its proprietary e-commerce and loan origination platform from Texas and Colorado to California and Florida. The company’s growth will allow millions of customers to buy, sell and finance vehicles easier, quicker and safer. Thirty percent of vehicle sales in the United States every year are between individuals. Leveraging artificial intelligence and machine learning, Blinker allows customers get guidance and tools to complete the entire purchase process themselves. The simple process allows instant vehicle valuation to real-time auto loan approval to e-signing documents to secure funds transfer. It’s all for

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Car loans reach new high, monthly average now $503

Car buyers in the United States are increasingly seeking more expensive cars, assuming larger car loans to the buy vehicles and are taking a longer time to pay for their purchases. The result of the trend, according to the credit company Experian, are the biggest numbers the automotive industry has experienced. Car loans reach new high Consider the car loan statistics for the first quarter of 2016 from data compiled from millions of auto loans: The average auto loan in the United States is now $30,032. It’s the first time the amount borrowed to buy a new care surpassed $30,000. The average month auto payment is now $503. It’s the first the average monthly car payment has exceeded $500. The

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Car title loans an option for auto consumers

When banks and credit car companies aren’t a viable choice for financing the purchase of a vehicle, there’s another lending option — Car title loans. Simply defined, a car title loan is a short-term loan in which the borrower’s car title is used as collateral. The borrower must be the lien holder (i.e. own the car outright). Loans are usually for less than 30 days. If the loan is not repaid, the lender can take ownership of the car and sell it to recoup the loan amount. A good-quality short-term loan comes with an affordable monthly payment and shows a light at the end of the tunnel: a reasonable repayment period that allows the borrower to get out of the

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