Smart Ways to Manage an Underwater Car Loan

What does it mean to have an underwater car loan and why is it a problem? Let’s take a look at a serious problem that can sneak up on unsuspecting car owners.

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What Is Auto Loan Amortization?

If you are shopping for a new or used vehicle, a term you may have encountered when applying for a loan is auto loan amortization. Although it may sound complex, auto loan amortization is very simple.

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Guide to Home Equity Lines of Credit (HELOCs)

Looking to update your kitchen but not ready to refinance or dive into a home equity loan? Used right, a home equity line of credit (HELOC) is a convenient way to get cash out of your home without tapping your equity. Here’s how a home equity line of credit works and how to access the benefits while avoiding the pitfalls.

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How Long Should My Loan Be?

The term you choose for your auto loan impacts your rates, the total cost of borrowing, and your monthly payment. So if you're wondering which auto loan term to choose, it's a good idea to weigh up the pros and cons of these different factors.

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Understanding HELOC Draw and Repayment Periods

Home equity lines of credit (HELOCs) may seem confusing at first. They have terms and conditions that are different from other types of loans – and they also function differently.

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How to Pay off Your Auto Loan Early

The process of getting a new car loan can be exciting but also seem overwhelming. There’s the mental load of knowing you'll be making payments on your new ride for years to come. But it doesn’t have to be as hard as it might seem if you commit to paying off your loan with a strategic plan in place.

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How Much Auto Loan Can I Afford?

Buying a car is a step toward independence and the freedom to go wherever you please. You no longer have to rely on public transportation schedules or ride-sharing apps to get you to your destinations. To put it simply, life gets a little easier.

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Should I Lease or Buy a Car? [Quiz]

If you're wondering whether to lease or buy a car, there isn't one simple piece of advice to help you make your decision. Instead, you need to weigh the pros and cons and think about what you want out of your car buying experience.

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Is Home Equity Loan Interest Tax-Deductible?

Many homeowners use home equity loans for home remodeling projects, to pay for weddings, to pay medical bills, or something else. These loans usually have interest rates that are lower than other financing options, which makes them an affordable way to borrow money.

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What Are the Different Types of Mortgage Loans?

You’ve found your dream home but now your next step is financing it. You might be wondering what are the different types of mortgage loans? Looking at your monthly budget, down payment amount, and credit score will give you insight into which loan will work best for you.

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HELOC Interest Rates Explained

A home equity line of credit (HELOC) is a popular way to tap into the equity you have in your home to buy something you need. If you are considering a HELOC for a home improvement project, to pay for a wedding, or something else, you may have questions about HELOC interest rates. The following overview can help you make an informed borrowing decision.

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Understanding the Finance Charge on a Car Loan

The finance charge on a car loan is the total amount it costs you to borrow the money, including interest and other fees. Finance charges can vary significantly between different lenders.

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How to Refinance an Auto Loan

You should always know how to save money by refinancing an auto loan if it makes financial sense for you to do so. Refinancing is a smart choice if you are looking to benefit from lower rates or lower monthly payments on your auto loan.

Keep reading to learn more about how to refinance an auto loan, how the process works, and when you should consider refinancing.

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What Is The Minimum Credit Score for a Car Loan?

Are you looking to purchase a car and need a loan? If so, you may be worried that your credit won’t look good to a lender and want to know more about the minimum credit score for a car loan. Don’t fret. While obtaining a car loan with just about any level of credit is possible, it may come with limitations and restrictions.

Keep reading to learn more about the minimum credit score for a car loan.

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How to Qualify for a HELOC

If you've built up equity in your home, a home equity line of credit (HELOC) is a convenient way to gain ready access to cash and give yourself a financial safety net.

But maybe you're not sure if you meet the qualifying criteria. A HELOC is a kind of second mortgage, so the qualifying process is similar to when you took out your original home loan. Read on for full details about how to qualify for a HELOC!

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Pros and Cons of a Home Equity Line of Credit

A home equity line of credit (HELOC) offers a convenient and flexible financing option for disciplined borrowers but can pose risks for those who aren’t.

If you’ve been paying down your house for a while, then a home equity line of credit (HELOC) offers a convenient way to tap your equity when you need it. Be aware, though, that you could face a substantial HELOC “payment shock” at the end of the loan period.

Let’s take a look at what a home equity line of credit is, plus the benefits and possible downsides of this type of borrowing.

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