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Should I buy a car or lease? Do I need insurance before shopping for a car? Search or browse for answers to these and other common questions.
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Keep all the documents, voicemails, and records of your interactions with the dealer or lender. If your problem is with a lender or a Buy Here Pay Here dealer, you may file a complaint with the CFPB and your state ...
A buy rate is the interest rate that a lender quotes to your dealer when you seek a loan directly through the dealer. Your dealer may offer you a rate that is higher than the buy rate. The rate the ...
With bank or credit union financing, often called “direct auto lending”, you go directly to a bank or credit union and apply for a loan. You can get an interest rate quote or a conditional commitment letter from the bank ...
The Servicemembers Civil Relief Act (SCRA) says if you enter into a car lease and later get orders to Permanent Change of Station (PCS) overseas or to deploy for at least 180 days, you can terminate the car lease without ...
Like a credit card, you will pay a monthly bill that shows your advances, payments, interest, and fees. There is always a minimum payment, which may be as much as the entire balance on the account. You may also be ...
An Actual Cash Value (ACV) is the value of the car according to widely recognized independent sources such as the National Automobile Dealers Association or Kelley Blue Book. This value is important for insurance and loan-to-value computations.
The base price is the price of the car by itself. The manufacturer’s base price excludes charges for optional equipment (like a sunroof) and excludes mandatory charges for taxes, title, and registration. The base price also excludes the cost of ...
The Manufacturer Suggested Retail Price (MSRP) is the base price that the carmaker – the manufacturer – suggests. It does not have to be the actual base price that you pay. Many consumers negotiate to purchase the car for a ...
An extended warranty or vehicle service contract covers the costs of some types of repairs in addition to or after the manufacturer’s warranty ends. TIP: Extended warranties and vehicle service contracts typically exclude routine maintenance such as oil changes and ...
An auto loan’s interest rate is usually the most important part of the price you pay for borrowing money. The total cost of credit, stated as a yearly rate, is called the annual percentage rate (APR).
