Payment buyers and car loans

A payment buyer is someone who only cares about how much they spend on a monthly payment – ​​often striving to pay the lowest possible amount each month. It may sound great in theory, but buying a car loan this way could end…

How are car loans amortized?

Auto loans use simple interest, which means your auto loan balance determines your interest charges. An amortization schedule describes how your interest and principal are paid in a simple interest loan. Here's how simple…

Car loans vs internal financing

The main difference between a traditional car loan and internal financing is the process of obtaining the vehicle. Both can involve finding a dealership, applying, and financing the car, but the loan process is what sets…