Qualifying for a new auto loan will be challenging if you have negative equity (the amount owed exceeds the auction value) – especially if it requires significant repairs to make it roadworthy.

Drivers face a dilemma when their car dies while they still owe money. Is it better to fix it up or attempt to get rid of it some way? Being above or underwater is the crucial variable.


Getting approved for auto financing is not a shoe-in for people when gainfully employed as you must meet credit score, income, and employment criteria.

So, what do you do if you need reliable transportation during your college years, and your parents are unwilling or unable to cosign a financing application?

Hidden benefits and features of student loans could help some commuters.


Qualifying for a car loan is hard enough for abled people who are gainfully employed while earning a decent living. However, what do you do when you rely on Social Security Disability benefits to cover just your basic needs?

In addition to the paltry income levels, SSI recipients also have to contend with restrictive rules on countable resources – which make it impossible to save money for a deposit or all-cash transactions.


Automotive financing deals are confusing enough when you are dealing with a single purchase. One car per person is the usual standard.

But what if you want to buy a second car on finance while you are still paying off the first contract? How will the dealer or third-party company view my application?

Your combined debt-to-income ratio provides the answer.


Keeping your old car running smoothly requires maintenance which can prove more affordable over time than buying a new car. Do-it-yourselfers can save a bundle by purchasing replacement parts – if they have the funding.

Meanwhile, enthusiasts can face the same barrier when they want to pimp out their ride. Performance parts often cost more, which means lining up your financing in advance is a good idea.


Your ability to verify sufficient income to cover your monthly payment, and validate your employment to ensure continuity are often critical eligibility criteria for an auto loan.

Your credit score is not the only factor that lenders will evaluate. Think about the price of the vehicle and the amount you can make as a down payment.


When you already owe a lot of money, borrowing even more is very difficult, and not always the best idea. However, sometimes we need reliable transportation to get to work.

Getting a secured personal loan online to fund a car purchase is difficult – but not impossible. Boost your reported earnings and spread out payments.


Your credit score rating can have an enormous impact on your ability to qualify for many types of financing, and the rate of interest you may pay.

Consumers often ask the wrong questions. The minimum score needed to buy a car is less important than the monthly payment your income will comfortably support.


Keeping an older car on the road can become costly and parts wear out, and the vehicle breaks down more often. Surprise repair expenses can put motorists in a bind.

A variety of loan, financial assistance, and insurance programs can keep you clunker running. Avoid having to take on an extra car payment when money is tight.


Do you know the difference between your credit card limit and the open to buy on the account? The open to buy is the limit minus the current balance on your account.

There is no need to request a credit card limit increase in order to rent a car. Simply pay down your balances, and increase your open to buy. Enjoy your travel!