Automobile credit in the US

Automobile credit

Every family needs a vehicle or two

Recently motor vehicle debt in the US has for the first time exceeded $1 trillion. Honestly what would the US citizen be without his motor vehicle? This is a very large country and in order to get to any place it is essential to have transportation. Likewise to get to your place of employment it is necessary to have reliable transport. Then the mother also needs a vehicle to get the children to school or to other activities in which they may be participating. Continue reading Automobile credit in the US

How to approach motor vehicle debt

motor debt

There are some precautions to take

It is frequently seen among US consumers that it is those people who are already struggling to survive in a difficult economy who is mostly the ones that is making motor vehicle purchases which they actually cannot afford. The problem is that there are many motor vehicle dealers who will make use of every trick in the book to target especially those US citizens who are already struggling financially and they are hooking them with the possibility of ownership of a new vehicle which to many is a very strong temptation and therefore they commit themselves to an enterprise which is in many cases doomed to failure from the start. Continue reading How to approach motor vehicle debt

Pressure on the US consumer

us consumer

Increased spending

There are two expenditures which has shown a substantial increase over the last year or two and that is vehicle purchases and student loans. During this time however there was some decrease in credit card debts and in some ways this had a negative impact on overall economic growth so far this year. There has been an increase in consumer borrowing which has now reached a total of over $2.7 trillion which is apparently the highest level on record. Continue reading Pressure on the US consumer

3 Ways That New Car Owners Overpay

buying-a-car

Cars are one of those things that you shouldn’t overpay for, but that most people do anyway. Much of this is because, though many people use cars everyday, few people have a real understanding of these complex machines. We have almost mystical relationships with our cars, hoping and praying that the sound we hear in the engine just kind of goes away on its own. People who don’t know much about cars are frequently the victim of sales tactics and marketing schemes that are meant to inflate the selling price of a vehicle, or overshadow design flaws which would disqualify the vehicle from prospective purchase. Short of getting a degree in mechanical engineering and studying the history of the world’s automotive models, here are three ways you can make sure you’re not overpaying with your car, current or future. Continue reading 3 Ways That New Car Owners Overpay