Before falling in love with a red — or midnight blue — car, it's a good idea to do a bit more homework than simply deciding what you'd like to spend on a monthly car payment.Car loans continue to be relatively low — and plentiful. But the origination of new car loans for subprime borrowers has hit a record low, according to Experian's data through the third quarter.So paying attention to your credit score matters. The average new car loan amount was $30,329 for vehicles financed in the third quarter, according to Experian. Borrowers with bad credit financed far less. The average new car loan amount was $25,031 for vehicles financed in the third quarter for borrowers with deep subprime credit, defined as a consumer with credit scores in the range of 300 to 500. The average new car loan payment overall was $502; the average new lease payment was $412 a month.To hold down their overall costs, car buyers can take a variety of steps. Car … [Read more...] about How do you find the car you’ll love and still afford?
Can i finance a car with bad credit
Florida officials including two Cabinet officers want to whack a $10 fee to freeze your credit report after hacked credit reporting agency Equifax emerged as the state’s most complained-about company in 2017 in beefs to the federal Consumer Financial Protection Bureau. Indiana, South Carolina, Maine and North Carolina “do not charge this fee and we want to add Florida to that list this year,” said Jimmy Patronis, Florida’s chief financial officer. Last fall Equifax acknowledged a breach that exposed the personal data of more than 145 million U.S. consumers, including Social Security numbers, birth dates, addresses and more. In recent years the region including West Palm Beach, Fort Lauderdale and Miami has ranked No. 1 or 2 nationally in identify theft complaints per capita. State officials including Patronis and Agriculture and Consumer Services Commissioner Adam Putnam are supporting bills to end the $10 fee to freeze credit reports. Such freezes can make … [Read more...] about Florida considers ending fee to freeze credit as Equifax leads gripes
Millions of Americans who are unable to stump up the thousands of dollars needed to furnish their homes turn to companies like Rent-A-Center, which markets its services as a way for people with bad credit to "live large without making large payments."The deal is pretty simple: instead of buying a couch with cash, or using store financing — typically only offered to people with good credit — rent-to-own companies let you pick a payment plan for furniture which you can choose to return at any time, much like a rental car.Yet those contracts come with a serious and little-known risk. While falling behind on an installment plan can lead to late fees, debt collectors and a black mark on your credit record, missed rental payments can escalate to police involvement. If your state is one of the many with criminal rental theft laws on its books, possessing a rental item that you're not paying the bills for can be considered theft.Instead of a call from a debt collector, rent-to-own … [Read more...] about How A Couch Rental, Gone Wrong, Can Land You In Handcuffs
Money Watch, a personal finance column that runs every Saturday, features a financial planner from the National Association of Personal Financial Advisors answering reader questions about saving, protecting and growing your money. To submit a question, e-mail USA TODAY personal finance reporter Christine Dugas at: [email protected] Q: I owe $45,000 to six credit cards. I pay a total of over $1,000 a month. What is the best way to manage this debt? Can I get a five-year loan so there is just one payment? A: Unfortunately, there is no quick fix to get out of credit card debt. It is important to explore all the pros and cons of the debt consolidation options and stay clear of quick-fix schemes.Here are some ways you may be able to get a five-year loan to consolidate your debt.-- A secured personal loan. Banks, credit unions and other professional lenders offer this type of loan. However, it requires the backing of some type of collateral. Secured loans are often used to purchase an … [Read more...] about Money Watch: Tips on tackling credit card debt
Will sticker shock — coupled with three rounds of possible interest rate hikes in 2017 — drive more consumers out of the new-car market?As the auto industry comes off back-to-back record sales years, some auto experts are questioning how high sales for new cars and trucks can grow given existing challenges and expected new higher-rate hurdles in 2017.Consumers are dealing with a world where some costs are going up far faster than many incomes. As interest rates go up, the cost of existing debt on credit cards and other variable rate loans will go up, as well.Before shopping for a new car, SUV or truck, it is becoming more important than ever to start out asking: What exactly can I afford? What's a reasonable monthly payment? What other costs do I need to consider? And, really, how long do I expect to hold onto that new vehicle?"A lot of cars here today are 50-grand or more. Most people can't afford that," said Ryan Fortenbacher, 35, who was visiting the North … [Read more...] about How much is too much for a car payment?
Nature has practically taken over the historic Boyle Racing Garage on Indianapolis’ Near Northside.The other day a pigeon exited through an opening where once there had been a window. Inside the building a tree flourished under a lot of direct sunlight — the roof above was totally gone. A green-eyed cat without a collar huddled in the jungle-thick vegetation that obscures much of the building.The scene looked wildly disorderly. It looked hopeless.But not to a group of local historic automotive enthusiasts, who later this week expect to take possession of this pile of bricks with the idea of turning it into a microbrewery or a restaurant or artist studios or an event space — something. The point is to save the building because it’s the old Boyle race team headquarters.Built shortly after World War I of brick and glazed tile block, the 15,000-square-foot building was never much architecturally.“But it’s the history of the building that’s … [Read more...] about Extreme makeover: Gangster’s Indy car garage edition
BILL: That's from Melba, who goes on that "Tom's" job demands he function at a very high level, which he has no trouble doing. Dave, the word addiction has become so hot, it's almost lost meaning. Someone will tell you, "I'm addicted to tap dancing," or to putting ketchup on her hotdogs. So, is Tom addicted?DR.DAVE: Our modern use of "addiction," to mean a habitual behavior, is really the word coming full circle. Shakespeare first used it with that intent in Henry V. From the late 19th century to around 1970, addiction was a term applied to describe the immorality, habitual or illegal use of alcohol and other psychoactive drugs. Today, under the health care model started with the 1970 Hughes Act, you have two types of addictions: One, the dependent use of substances and two, obsessive-compulsive process addictions—like eating, gambling, and sex.BILL: By this definition, gambling, for instance, is a process addiction, because no chemical is taken into the body? My … [Read more...] about Addictions & Answers: If you have to have those two glasses of wine a day, are you an alcoholic?
David Brooks of The New York Times thinks that Donald Trump is an "anti-elitist," more at home with immigrants and the lower middle class than with the superrich. Mayor Bloomberg, coupling mild criticism of Trump with praise, calls him a "New York icon." Must be a different Donald Trump. To native New Yorkers, he is more like a burr under the skin that has been irritating us for years. I well remember hearing about Donald, the neighborhood hellion, when I was growing up in Queens. By the time he was a teenager, Trump, now 64, was already known as a troublemaker who raced through our quiet streets in his flashy car. My family lived on the frayed edges of a wealthy neighborhood that, within a few blocks, shifted from small red brick apartment buildings to mansion-like private homes. Young Trump, scion of a successful real estate developer, lived with his family in one of the leafier sections, when he wasn't away at the military academy his parents hoped would tame him. "Stay away … [Read more...] about The Donald Trump we know (and don’t love): He’s riding high in polls, but NYC’s seen his bad side
Below, President Obama's State of the Union address, as released on the White House's Web site. Madam Speaker, Vice President Biden, members of Congress, distinguished guests, and fellow Americans: Our Constitution declares that from time to time, the President shall give to Congress information about the state of our union. For 220 years, our leaders have fulfilled this duty. They've done so during periods of prosperity and tranquility. And they've done so in the midst of war and depression; at moments of great strife and great struggle. It's tempting to look back on these moments and assume that our progress was inevitable -– that America was always destined to succeed. But when the Union was turned back at Bull Run, and the Allies first landed at Omaha Beach, victory was very much in doubt. When the market crashed on Black Tuesday, and civil rights marchers were beaten on Bloody Sunday, the future was anything but certain. These were the … [Read more...] about Full transcript: Text of President Obama’s 2010 State of the Union address; with video
When you think about retirement and savings, what comes to mind? If you’re anything like I used to be, retirement is something you did with last year’s handbag, and savings is something you did with your calories before Thanksgiving dinner. Your idea of an emergency fund is a $20 bill shoved in the back of your panty drawer, your retirement plan consists of praying the CEO gets canned and you miraculously land her seven-figure-a-year job (and that fabulous corner office while you’re at it), and your investment strategy, well, I am not even going to go there. You’re a smart, together woman, but your finances are another story. Or maybe you’re not that bad. You’re one of those women who is already pretty good with money but could use a little financial touch-up. You’re pretty sure that your retirement fund is invested smartly, that your savings will last should you lose your job, and that you manage your taxes well, but you wouldn’t … [Read more...] about 10 signs you need a money makeover (or at least a little financial touch-up)