USED CAR BUYING GUIDE How old is too old for a used car? There is no single age that automatically makes a vehicle a bad purchase. A well-maintained 10-year-old car may be a better choice than a newer vehicle that has been neglected. The key is to evaluate the car’s condition, maintenance history, mileage, safety…
USED CAR BUYING GUIDE When buying a used car, mileage and age both matter—but neither tells the whole story. A newer vehicle with high mileage may have spent years on the highway, while an older car with low mileage may have sat unused for long periods. The better choice is usually the vehicle with a…
Yes, a bigger down payment can lower your monthly car payment. When you pay more upfront, you generally need to borrow less to purchase the vehicle. A smaller loan balance can mean lower monthly payments and less interest paid over the life of the loan, depending on the loan term and interest rate. But putting…
CAR FINANCING GUIDE Not necessarily. You do not automatically need a co-signer to finance a vehicle. Whether a co-signer is needed depends on the lender’s review of your credit, income, existing obligations, the vehicle, and other application details. A co-signer can sometimes make more financing options available, especially when your credit history is limited or…
USED-CAR FINANCING GUIDE How much should you put down on a used car? There is no single dollar amount that works for every buyer. A down payment should be large enough to make the purchase and monthly payment comfortable without using so much of your cash that you leave yourself financially stretched. For many used-car…
USED CAR SELLING GUIDE Should you trade in your car or sell it privately? There is no single answer for every vehicle owner. The better choice depends on how much your car is worth, how much time you want to spend selling it, whether you are buying another vehicle, and how much convenience matters to…
Negative equity on a car loan means you owe more on your vehicle than the vehicle is currently worth. You may also hear this called being upside down or underwater on your auto loan. Quick answer If your car is worth $15,000 but your loan payoff is $18,000, you have approximately $3,000 in negative…
USED CAR BUYING GUIDE Seeing 100,000 miles on a used-car listing can make you pause. But does reaching six figures on the odometer automatically mean a vehicle is a bad buy? Quick answer No. A used car with 100,000 miles is not automatically a bad idea. Mileage is important, but the vehicle’s maintenance history, condition,…
Trade-In Guide Yes, you can usually trade in a car you still owe money on. The important part is comparing your vehicle’s trade-in value with the amount needed to pay off your current auto loan. That difference tells you whether you have positive equity, negative equity, or are close to breaking even. Quick Answer You…
Used-Car Buying Guide The right car budget is not simply the biggest monthly payment a lender may offer. It is the amount that lets you cover the full cost of owning a vehicle—without putting pressure on the rest of your life. Before you shop, look at your payment, down payment, insurance, fuel, maintenance, and the…
