Beware of Predatory Auto Loans!

This article hits on key points when buying a car. Buying a car can be a tough situation. If you are lucky enough to be able to pay with cash then you won’t have to deal with financing. For the majority of us who need to finance, dealing with lenders and dealerships can be a hassle. Dealerships tend to have high interest rates with their loans.

There are some good tips to help you avoid dealerships who try to stick you with high interest loans, aka predatory loans. To our advantage, the government has started stepping in to regulate the predatory auto loans consumers are facing. Some tips to recognize predatory auto loans include being asked to provide false information, loans that includes tons of packages, ads that include slogans like “bad credit, no problem!”, and sales that “yo-yo” or change consistently. A few signs to avoid these types of loans are: working with financial institutions that have a well know reputation, researching dealerships with good reputations, understaningd your credit score, and recognizing the personal power that you hold.

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Toyota Showing the U.S. the Money: To Invest $200,000,000 at 3 American Plants

Toyota Motor Corp has announced that it is going to invest a total of $200,000,000 at three automotive plants in the U.S. Proving that the Japanese are indeed fans of the Crimson Tide, $150 million of the total is being dedicated to an engine plant in Huntsville, Alabama. The other two plants to receive investment dollars are at Jackson, Tennessee and Troy, Missouri, both of which supply the Huntsville plant.

After a period of sadness brought about by recalls, lawsuits and an earthquake and a tsunami, the planet’s largest automaker has experienced some good times as of late with its U.S. vehicle sales increasing by 5.2 percent this year through May.

What Should You Do When You Witness an Accident

You are on the road during your usual commute or running errands, etc. You see a car accident and want to help. This is human nature. But, you need to be careful as well, especially with the hazards that are likely present. Know the basics about what you should or shouldn’t do in this type of situation. Your immediate reaction is likely going to set your adrenalin pumping. After all, even though most of us drive thousands upon thousands of miles every year, we really don’t often witness an accident, let alone a serious one. But safety has to be first or else you will only worsen the conditions. Learn about some things you should always have available in your car that can even be lifesaving to you when providing assistance in such circumstances. If you want to help and not hinder the situation, follow these ten basic rules. Well, really 9 plus 1 as you will see.

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Current Trends in Subprime Auto Lending

There are three main factors effecting subprime auto lending in the current market, and many new companies getting into the business. Companies are more likely to lend now than before the credit crisis a few years back, as they have available money to lend on lower-yield loans.
Companies are also more welcome to longer loan periods in today’s market, with up to forty-eight month terms becoming the normal session among auto lenders, and sixty month terms not unheard of.
Increased consumer protection from federal and state law is also becoming an issue, though this has a lesser impact than the other two points. Creditors are mostly more willing to consider subprime lending now than before overall.

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Nationwide Acceptance Now Serving Alabama

Nationwide Acceptance LLC recently announced its subprime auto sales program will now service dealers in the state of Alabama. The company operates in 23 states, including Alabama.

Martin Less, president and CEO of Nationwide Acceptance, stated:

 “We are very excited to continue our expansion and to offer our subprime point-of-sale program to franchised and independent dealers throughout Alabama.”

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