My Financial Implosion: Buying a Truck after Bankruptcy

“A fool and his money are soon parted.” – Thomas Tusser In January 1998, ... immediately, I was deluged with offers for credit.  I received letters offering new and used car loans, credit cards, and even household goods.  Everybody seemed to want to offer me financing, since they knew [more...]

Date: 2009-02-24 20:13:18

Blog posts (103) | Videos (85)
 

General Motors Fighting Uphill Battle with Double Edged Sword

Shortly after the U.S. government lent the Big Three $17 ... credit losses because GM funds the majority of its car sales through GMAC, its own financing division ... to buy new cars, regardless of what their credit score is. As car inventories build and GM’ [more...]

Date: 2008-12-30 16:31:17

Have You Delayed Your New Car Purchase? You’re Not Alone!

For the year just ended, three million fewer cars were sold then in the previous year, for the American market alone ... mortgage meltdown, high gas prices and tight credit. The latter, particularly, made it difficult for Americans to buy new cars as credit standards were tightened, shutting out hundreds of thousands [more...]

Date: 2009-01-09 07:33:10

6 Steps to Doomsday: A Great Depression II Scenario

I have to get this out of my system. BP’s interview with historians Michael Allen and Larry Schweikart helped assuage my fears some ... , out of money, default on their mortgages, car loans, student loans, credit card loans, etc. Bond ... ; the market crashes. 5. Banks hoard money, making it nearly impossible to get credit. Want a new car [more...]

Date: 2008-10-07 18:00:29

When life gives you lemons,

...sell them at a ridiculously useful discount. It's become something of a minor tradition for me to post examples of genuinely good customer ... . Recently, as the credit crunch has halved the new car market in the country, they've gotten creative ... -ish car until the end of the year, and they promise to cover all your financing payments until [more...]

Date: 2008-12-01 16:01:49

Car Loans Now a Part of Stimulus Plan

It should come as no surprise to anyone by now that the unprecedented economic bailout of North America’s big three automakers did not succeed in ... credit? Should one rush out and buy a new car just because there’s a good opportunity ... in the form of a tax credit for consumers buying cars. Hoping that the tax break will allow more people [more...]

Date: 2009-03-05 08:36:46

I CAN SOLVE THAT ECONOMIC CRISIS IN 10 PAGES

by Lee Newcom    What is needed to save the free market system and get the economy going is a simple plan that creates massive economic activity ... of this and how much of a credit is needed to create the incentive to act). A tax credit for the purchase or start of a new home or building in 2009-10. A tax credit for the purchase of a new car or [more...]

Date: 2009-02-02 15:09:31

January 7, 2009 - Daily Brief

Looky here! Tony Strickland and Cameron Smyth have cast their lot with the Howard Jarvis Taxpayer Association! ... he’d like to “jump-start the economy by supporting a tax credit for new-car buyers.” McKeon figures that might stimulate you into buying a car from one of our fine dealers on Creekside road. Don [more...]

Date: 2009-01-07 18:17:02

Do you know if your clients' credit will be the same right before the closing day?

By Bill ArceAs a former real estate agent, I always advised my clients (once they were pre-approved) ... , to do not open a new credit card, buy a car or a boat, and more importantly to pay their bills on time ... that I learned the hard way when I was active selling houses and also implemented as a loan consultant, I hope [more...]

Date: 2008-09-24 12:41:00

GM Loosens Credit Restrictions

2008malibu270 In a rare instance of seeing an immediate impact on consumers from federal bailouts, GM’s financing arm, GMAC, will lower its credit requirements from a credit score of 700 to one of 621 to secure car loans ... of providing credit to buyers, including an agreement with Midwestern credit unions. The new requirements [more...]

Date: 2008-12-30 16:13:12

Link roundup: Gender bender edition

A friend from church and I went to Best Buy to get a few RCA gender benders for his video project ... are links of interest from a few of the great blogs in my reader: Free Money Finance had his house ... guest poster Tanesha talks herself out of a new car. No Credit Needed is tired of being treated [more...]

Date: 2008-11-10 06:32:22

10 Reasons Why Credit Unions Kick Ass

Credit unions exist to help its members. Commercial banks exist to enrich their shareholders ... are often very low (or nonexistent), loan rates are often competitive, and they always try to sell you new ... Credit Union, a credit union in Maryland, the current rate on a 60-month loan for a new car starts [more...]

Date: 2008-12-18 12:48:11

Living on Debt Gives Way to Fiscal Prudence

The newest push-on-a-string plan from Treasury Secretary Paulson is to force more federal money into consumer credit. The idea is that we can then max out our credit cards to new limits, buy houses and cars with too ... payments so we can have smaller mortgages? What if we've realized that "zero percent financing [more...]

Date: 2008-11-26 17:25:57

Tough times call for tough decisions

At the start of 2009, things are bad for a lot of people. Many are losing their jobs and have no prospects for work in the immediate future ... . I think it is fair to say that we have become soft. Easy credit, no-interest financing ... think they deserve a new car every 3 years or a new mobile phone every 12 months? Why should [more...]

Date: 2009-01-07 14:02:15

Frameshop: Mitt Romney's Dickensian Plan For Big Auto

In a Op-Ed piece in today's New York Times, Mitt Romney boldly invites Americans to view the auto industry through the economic lens of 1954 ... Detroit a bridge loan of $25 billion to cover short term credit vanished in the comatose credit markets ... cars, American cars. I was born in Detroit, the son of an auto chief executive. In 1954, my dad [more...]

Date: 2008-11-19 17:23:30

No Thanks, Mr. Paulson, We’re Repairing Our Balance Sheets

The newest push-on-a-string plan from Treasury Secretary Paulson is to force more federal money into consumer credit. The idea is that we can then max out our credit cards to new limits, buy houses and cars with too ... payments so we can have smaller mortgages? What if we've realized that "zero percent financing [more...]

Date: 2008-11-26 15:42:12

GMAC limits loans to buyers with 700+ FICO rating

Filed under: Car Buying, GMIf you're in the market for a new car, you'd better get your credit score in order first ... some sales, but according to credit information services company Experian, 74.3% of all auto loans went ... . Auto lending units are looking for top tier customers right now, and GM's captive credit arm [more...]

Date: 2008-10-14 12:52:03

Republicants Won’t Clean Up Their Own Mess

Republicants are likely little kids who play with their toys, make a huge mess, they cry and whine when they are asked to clean up their mess ... industry championed by Bush allowed for banks to make subprime mortgage loans. It allowed people ... car loans. Consumers found it easier to get credit thus were more likely to buy a new car [more...]

Date: 2008-11-19 17:12:35

Getting a Bad Credit or No Credit Auto Loan

By katie GeorgeEveryday people swamp into the dealerships all across the US, looking at new or pre owned vehicles ... score and credit history. Bad credit shouldn't stop anyone from getting a car loan, it may ... of residence, most recent pay check stubs, and maybe even references. Bad credit car loans are harder [more...]

Date: 2009-01-09 09:36:00

Online Union-Made Car Guide

Photo credit: UAW       If you’re in the market for a new car and you want to support good union jobs at the same time, ... by members of the UAW, Canadian Auto Workers (CAW) or IUE-CWA. The list includes cars, vans ... incentive to buy a union-made car: The buzz at this year’s North American International Auto Show [more...]

Date: 2009-02-21 14:00:49

Chrysler to shut down all plants for a month

Chrysler announced today that it will be shutting down all of its manufacturing operation for a month starting Dec.19th as a result of the lack in consumer credit for new car buyers that has led to a decrease ... of financing. The dealers said that they have lost an estimated 20 to 25 percent of their volume due [more...]

Date: 2008-12-18 01:25:48

AccountNow Prepaid Visa Review

You don’t need to be embarassed about not having a credit card to make online purchases, register a Paypal account, rent a car, ... your credit with the new iAdvance loan option(SM)Instant guaranteed approval* – no credit check [more...]

Date: 2009-02-04 16:17:14

Unforeseen Impact of the Stimulus Package: What’s Left in Your Wallet?

Immediately following the President Obama’s signing of the Stimulus Package, otherwise known as the “American Reinvestment and Recovery Act”( ... on credit cards. Interest rates have doubled on some cardholders, regardless of credit score ... on new home loans (21%) and used car loans (26%). No one knows this better than those in the trenches [more...]

Date: 2009-02-20 11:29:00

Is it time for you to buy a car? Here are some things to think about.

Looking at the economy, why would anyone want to buy a new (or a “new to you” car) at this point? ... and determine how long you intend on keeping the car. Keeping in mind that the days of easy credit may ... and employment situation Unavailable credit for even what would normally be considered “healthy” [more...]

Date: 2009-03-10 18:54:16

The Lending Lunacy Continues as GMAC Gives Out More Bad Loans

This past week the Treasury used $5 billion of funds from the Troubled Asset Relief Program ((TARP)) to purchase senior preferred equity in GMAC, the financing arm of General Motors (GM). GMAC reacted immediately to deploy the funds by lending to new car buyers with credit scores as low as 621 [more...]

Date: 2009-01-01 11:02:24

AP Tries Desperately To Prop Up Failing President

Read this amatuer propagandist tripe. Man, what a hack job. It has all the sophistication and tactical skill of a 14 year-old in the backseat of a car ... homeowners avoid foreclosure; a new credit plan to spur lending for people and businesses [more...]

Date: 2009-03-07 16:00:44

IAB Announces 55 MIXX Awards Winners Across 18 Categories

Best in Show Awarded to TEQUILA\ and Nissan for "Rogue Launch"-- Adobe, BMW among Marketers Receiving Multiple Honors NEW YORK, NY ( ... . The campaign was credited as the most successful new car launch in Nissan's history. Goodby Silverstein [more...]

Date: 2008-09-23 05:00:00

The Glass IS Half Full

The “new, post-bail-out era of real estate” is how Cheryl Johnson describes things going forward amidst the “collapsing global financial markets” in ... store credit, car loans, credit cards, home equity and so on have stopped flowing.  The bailout ... to Henry Ford’s sentiment when he said: Any customer can have a car painted any color that he wants… [more...]

Date: 2008-10-13 15:00:27

Know more about the average credit score

If you’re wondering how you compare with the national average credit score, then you don’t have to wonder anymore ... to maximizing your financial potential. Whether you’re applying for housing loan, buying a new car ... history); 10% (concerns the types of credit used whether revolving, installment or consumer finance [more...]

Date: 2008-12-26 06:25:32

Compare and Select The Best Loan Among Different Loan Types

by Ada Denis Christmas time and the festive period in general is renowned for being a time where we all spend lots and sometimes more money than our ... to consolidate card and other debts but also perhaps to buy a new car, take a holiday, finance a wedding ... and credit cards to finance their purchases of gifts and other extravagances; in fact [more...]

Date: 2009-01-02 09:54:05

Chrysler says to shut down all production for month

DETROIT (Reuters) – Citing a credit crisis and dwindling sales, ... financing for new car purchases. "As a result of the financial crisis, the automotive market ... that was also posted on its website. Chrysler said its dealers were getting car shoppers into showrooms [more...]

Date: 2008-12-18 02:49:17

Does Mobile Marketing Infringe on Your Privacy?

Naturally, privacy watchdogs answer the question in this post title with a resounding “Yes! ... a new car recently, and went on the mobile phone looking for a lower-interest credit card,” said Jeff ... to know that? Marketers for fast food companies, car insurance companies or credit card companies? It’ [more...]

Date: 2009-01-13 22:52:51

Save Money When You Buy a Car

Buying a new car may be an every-day occurrence for some people, but for most of us it's a pretty big deal, and these days, ... . Especially on leased or used vehicles, the bulk of a dealer's profit comes from their in-house financing ... bet is to visit your bank or credit union, and go to the dealer with your financing already arranged [more...]

Date: 2008-09-09 16:15:00

How To Save Hundreds A Month On Your Mortgage

When it comes to American spending habits, the sad truth is that most people don’t put their financial assets to the best use ... such cutting unnecessary services, refinancing a car loan, paying off credit cards (to end the high cost ... with you if you have bad credit? Are you getting a new loan to refinance your rate? Or are you getting a loan [more...]

Date: 2009-03-10 10:55:59

Finally: Republicans Finger Democrats as Responsible for Fannie/Freddie Meltdown

—Ace Good video report from Jim Angel at FoxNews. It should be noted that "Republicans" do not include "McCain ... guaranteeing a trillion new dollars for no-money down car purchases with no credit checks or proof ... in demogogic populism, blaming Wall Street for "forcing" loans on poor people who coudn't afford [more...]

Date: 2008-09-24 00:11:22

Form For Hybrid Car Tax Credit

We've heard from some of you who purchased new hybrid cars this year and you're looking to collect on a tax credit -- but when you try to file, you're told the proper form is not yet available [more...]

Date: 2009-03-10 12:20:45

Automotive Financing Depends Heavily On Credit

When buying a vehicle, you often have several opportunities to pursue to obtain a vehicle. However, in almost every case, purchasing a new car involves auto financing. Cars are expensive ... , among other things. These days, because of the weakened economy and the credit crunch, financing [more...]

Date: 2008-10-29 16:00:17

03/05/2009, 3:00 PM

ElectricRe-Illustrated: 2012 Tesla Model S In February, we brought you an exclusive illustration of the 2012 Tesla Model S, ... is expected to range from $57,400 to $67,400, though the car’s eligibility for a $7500 tax credit will reduce ... a whole new computer-generated illustration of the rear of the car, plus updated our side profile [more...]

Date: 2009-03-05 20:00:29

A Few Tips To Assist You In Maintaining Your Healthy Credit

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! ... of a positive credit rating.Your perceived creditworthiness is the determining element when applying for a car ... by Frank FroggattPreserving a good credit rating is essential to your financial well being [more...]

Date: 2009-02-26 08:23:32

Thomas Friedman Pleads for Reason

The wealthiest journalist in the US says he "understands" why we're angry at Wall Street, ... subprime mortgage bonds, which is why you were able refinance your house two years ago. And your local ... to finance your street’s new sewer system, and your local car company depended on the credit markets [more...]

Date: 2008-10-02 05:17:18

It was all my fault.

It was the year 2000. The Millennium Bug had failed to bring the world crashing down. The dot ... went to the bank and came back with no credit card debt, a smiling face, and a brand new car. I hit ... of Endeavour Hills to refinance his home to pay off an exorbitant credit card bill - which was exorbitant [more...]

Date: 2008-10-10 02:20:00

A Best Seller? Stop Building It!

While the rest of the world’s auto markets swirl down the bad-credit drain, sales of new cars in Russia are still growing. With Russian sales set to hit a record 2.8m units this year, it’ [more...]

Date: 2008-11-13 16:51:45

Working with Credit and Auto Loans

When buying a vehicle, you often have several opportunities to pursue to obtain a vehicle. However, in almost every case, purchasing a new car involves auto financing. Cars are expensive ... you have the possibility of obtaining a car after acquiring the assistance of an auto loan. But just like any other loan [more...]

Date: 2008-11-19 04:15:04

Car Loans After Bankruptcy? Is It Realistic?

Those who have gone through a bankruptcy process are eager to retake the path of reasonable financing ... on your credit report. And especially those who want to purchase a new car wonder whether approval for a URL=http://www.speedybadcreditloans.com/poor-credit-auto-loan.html car loan after bankruptcy /URL [more...]

Date: 2008-09-11 05:28:22

Sound Advice For First Time Credit Card Users

If you are just entering the world of credit cards, ... credit history and will be a valuable asset in applying for a loan for a home, new car, or getting a new ... there is important information you will need to know in order to manage your credit [more...]

Date: 2008-11-18 09:00:00

How to Prepare for Buying a Home

This is a guest post from Jim, my friend and colleague at Blueprint for Financial Prosperity ... of thousands, over the life of your loan. Don’t buy a car. Don’t take advantage of 12-month 0% financing “ ... as possible and as little access to credit as possible. Don’t apply for any new credit cards. They could [more...]

Date: 2008-09-03 12:00:29

Driven to Bankruptcy

Do you know anybody who bought a new car in October? Most of the country was a little bit preoccupied, I think, for that kind of activity ... that people want to buy. But there's also the fact that if you want a car loan from GMAC, you now need a credit rating of at least 700. Plus, of course, GM no longer owns GMAC, which can't help. [more...]

Date: 2008-11-04 02:39:34

the damage done

Whoa is me, I'm so miserable and suffering so much ... nothing seems to be working; I think I'll buy a best-seller or get a prescription ... so we can be happy.We think about refinancing our mortgages to honor our bank commitments; we can't sleep at night thinking of schemes to shuffle our credit card debts to repay our student loans- and buy a new car [more...]

Date: 2008-08-17 06:06:00

Better Daze

Man, working at Gray & Prouty is losing some of its new car smell. Today just seemed to drag on and on. Good news, though! I got my first paycheck from them today. Too bad it all goes to paying off my credit card. Gas ... a thousand miles on my car, and I need an oil change again now. Oh, and eating out all the time [more...]

Date: 2009-02-24 02:34:36

Plug-In Hybrids Could Get $10,000 Tax Credit

Last year, legislators passed new rules about plug-in hybrids and their tax credits ... . Currently, there are no such plug-in commercial vehicles planned. Senate Finance Committee Markup Proposes Doubling PHEVs Eligible for Tax Credits to 500,000 Units (Green Car Congress) [more...]

Date: 2009-01-28 20:09:42

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