What is an auto loan APR?

Answer The annual percentage rate, or APR, of a car loan is the amount of interest you pay over the life of the loan. This rate is assigned to the loan based on the loan amount, loan terms and your credit... Read More »

Top Q&A For: What is an auto loan APR

Which loan is better: an auto loan or a signature loan?

On One Hand: Auto LoansWhen you are purchasing a car, you can use the car as collateral so that the loan becomes less risky for the lender, which means you get a lower interest rate. A lower intere... Read More »

Home Equity Loan Vs. Auto Loan?

Homeowners have loan options when they want to purchase a car. For example, they may acquire an auto loan or use a home equity loan. However, it's best to weigh the benefits and drawbacks of each o... Read More »

Can a bank offer you a settlement on a charged off auto loan and later refuse the settlement offer because you received a check from your auto insurance company to fix your car from an accident?

Answer Yes, the bank or any lending institution can withdraw any offer unless a contract has been signed by all parties.

What happens when an auto loan defaults?

Failure to pay auto loan payments promptly when they come due can result in the auto loan going into default. A defaulted auto loan can have serious consequences such as credit damage and repossess... Read More »