Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [auto-loan]

to be used for questions on loans taken to buy a vehicle / automobile [generally cars]. Country specific is recommended to be used as appropriate.

to be used for questions on loans taken to buy a vehicle / automobile [generally cars]. Country specific is recommended to be used as appropriate.

236 questions
302
votes
18 answers

Who can truly afford luxury cars?

I never really thought about money until one day I checked how much I made compared to the rest of America. The calculator said my household income is in the top 20%. Kind of funny to me, because I always considered myself middle class. (My tax…
ConfusedDeer
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75
votes
9 answers

If the co-signer on my car loan dies, can the family take the car from me like they're threatening to?

I have a car, both me and by grandpa are on the title. As I cannot get loan on my own, my grandpa is my cosigner. My grandpa is almost 90, and chances are he may not be around till the loan is paid off. I have been paying on my car loan for almost…
JWea417
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73
votes
1 answer

My friend cosigned for a defaulted loan. Should he declare Chapter 7 bankruptcy?

Background: My friend Abe co-signed an auto loan for about $25k with his "friend" Bella, in the USA state of Maryland, about 4-5 months ago. The car was for Bella's use. The deal was that Bella would make payments on the car and when it was paid off…
President James K. Polk
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63
votes
10 answers

Pay off car loan entirely or leave $1 until the end of the loan period?

Background information: I have a car loan that doesn't require payments if I'm ahead on the loan (but accrues the interest, of course, on the balance remaining). I still have a year and a half on my loan, and all my credit score reports show my…
user0721090601
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62
votes
5 answers

Should I worry about having my credit pulled multiple times while car shopping?

I went to a dealership today and they pulled my credit after a test drive. I've heard that as long as you get your credit pulled for an auto loan within a few days, multiple pulls will only count as one. Well the salesman really wanted to keep me…
Chris
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57
votes
12 answers

Should I pay off a 0% car loan?

I'm ahead on 0% interest car loan. I don't have to make a payment until October. I currently owe $3,000 and I could pay it all off. Should I do that or leave that money in my savings account that earns 2% interest?
Steve
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48
votes
6 answers

Dealership wants more money years after vehicle is paid off?

I bought a used car in August 2014 when I lived in Texas. A few months later I paid off the vehicle. I have the title and I never heard from the dealership after the final payment. Today I got a letter from the dealership indicating there was a…
Steven M
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48
votes
4 answers

Would using an expensive car as collateral for a small loan to get cheap parking work?

There's a rather old joke which is being told in many variations and my question would be whether events narrated could actually happen in real life. I'm not in the US so I don't know all the details of how banks work in the US. The joke goes…
sharptooth
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40
votes
6 answers

Can a car company refuse to give me a copy of my contract or balance details?

I have an auto loan with a car company that after looking at all possible amortizations, doesn't match what my payment should be. I'm talking with 40% interest rates, adjustable interest rates, shortened terms, etc; none of it matches my…
Anoplexian
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34
votes
6 answers

Electric car lease or buy?

I know the conventional wisdom for leasing vs. buying, but are the economics of an electric car significantly different than other vehicles?
NL - SE listen to your users
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28
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5 answers

Can a used car dealership switch the price I saw online vs going in and getting a different price?

I’m looking to purchase a used vehicle today and when I finally found one I called the used car dealership to see if it was available. I showed up to the test drive, without even asking for the price (I saw it online for $14,995) and decide to run…
Christopher Gonzalez
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27
votes
7 answers

Girlfriend took off with the car I got a loan for

I got a loan on a car from CarMax for my girlfriend. She was to make the payments but instead took off with it & I can't find her. Should I report it stolen? The insurance, loan and registration are in my name. I want to let it go back for…
Shay Tangretti
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26
votes
5 answers

I just paid off my car - should I release my Credit Union's lien on the car?

We just came upon a windfall significant enough to pay off our car loan - so I did. My Credit Union just sent me a letter describing the way in which I can remove them from the lien. From the letter: If you wish to remove (credit union) as the…
Zibbobz
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22
votes
4 answers

Car dealer saying that they cannot see any credit information for my co-applicant. Could this be a scam?

A couple of days ago, I went to a Chrysler dealer here in Florida to look for a new car. Being that my credit score is currently somewhat low (about 680), me and my wife thought that we could have her as a co-applicant, as her score is over 800.…
neo
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21
votes
4 answers

How can I remove my name from a car loan?

I financed a car, then my friend took over the payment. We went to the bank to transfer the car over to her, but I still had to be on the loan as a co-signer. Last year she was still paying on the car, but the title is in just her name. How can I…
Stephanie
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