Clarksville Auto Dealer Accused of Bank Fraud and Falsifying Loan Documents in Federal Court
According to a federal court filing Thursday, an automobile dealer found guilty of bank fraud stemming from falsifying loan information and defrauding several credit unions.
Fed Hikes May Affect Mortgages, Car Loans & Credit Card Rates
Consumers and businesses will eventually feel the impact of the Federal Reserve's announcement that it will begin increasing its benchmark interest rate in March - and likely a few additional times this year.
Auto Lenders Profiting Off Most Vulnerable Customers
Becky Perrin saw a 2014 Chevrolet Camaro for sale at a local dealer in late 2019 while looking for a used car to run errands and go to doctor's appointments.
Sales at Online Car Retailers Up More Than a Third
Online used car dealers are thriving with the computer chip shortage and a pandemic upending the auto industry. In 2021, sales at the three most significant online merchants - Carvana, CarMax and Vroom - were up more than a third from the previous year.
Since 2019, Scammers Have Taken Out $1B in Fraudulent Auto Loans
A newly-purchased car or even a used car is a thrilling experience for most of us. Going from a prospective buyer to becoming a proud owner is an exhilarating experience, and for some, that excitement is so overwhelming that they submit fraudulent loan applications.
Save Money on a New Car by Ordering From a Factory
The shortage of vehicles at dealerships over the past two years has prompted more consumers to order cars from manufacturers.
Experts Say 72-month Car Loans Don’t Mean Disaster
The previous few months have seen an increase in car buyers accepting longer loan terms to make monthly payments smaller. Because new auto loans have been stretched out, borrowers are now being offered some of the most favorable terms in quite some time.
The Auto Future is Electric, According to Biden Administration
Intending to build a better America, the Biden-Harris administration released the Bipartisan Infrastructure Law to pave the path for a zero-emission future. The plan would focus on creating a cleaner and affordable car future and generating employment opportunities across the American supply chain.
Falling Car Prices Could Lead Consumers to Become Upside Down in their Loans
Used car prices have spiked for months due to low new car inventories, which resulted from a chip shortage. It is not breaking news, but accounting firm KPMG said in a new report that prices have fallen so far out of whack that negative equity has become a problem and probably will continue to be.
Report Suggests Used Car Bubble Could Burst
The trend of used car prices steadily rising has been reported all year.
Loopholes in Car Loan Laws Hurt Consumers
During the winter of 2019, Murino Frampton purchased a used 2006 Jaguar S-Type sedan for $2,000 down and $3,350 was financed by the Las Vegas dealership. It had a 75% annual percentage rate (APR).
This is the Best Month to Buy a New Car
This might be the perfect time to buy a new vehicle. Despite the temptation to put off making plans until after the holiday rush, it is time to move forward again and stop depending on the holiday deals to get you in.