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477Protect Yourself From Yo-Yo Financing

Dealership sell cars, and then take them back when the loan falls through

When dealers allow cars to roll off lots when financing isn't complete, customers can be on the hook for hundreds in extra fees or have their cars repossessed if loans don't come through.

79More People Defaulting On Car Loans, Says Experian

There are ways to prevent losing your car to the repo man

The percentage of 60-day delinquencies on car loans nudged upward in the final months of 2012, the first increase in delinquency rates since the recession and financial meltdown began in 2008.

102Beware Of The Following Car Dealerships When Seeking A Loan

Federal Trade Commission increases enforcement of dealerships that make deceptive promises

The sales pitch goes something like this on the showroom floor: A car salesman makes an enticing promise. "We'll pay off your car loan, no mater how much you owe!" Or "upside down on your current loan? We'll pay off your trade."

3Chrysler Financial to begin lending once again for Chrysler vehicles?

Chrysler Financial hasn't been doing a whole lot since the domestic automotive implosion of aught-nine. When the Obama Administration's Automotive Task Force found that the lender didn't have the wherewithal to continue making large loans to dealers, GMAC was forced to take over lending duties for Chrysler. Part of that decision was due to the fact that last year, used car values were at one of their lowest points in decades. Since the majority of Chrysler Financial collateral involves used cars

50STUDY: Average car costs 22.1 weeks of median family income, average price at $26,300

A study by Comerica Bank shows that the average purchase price of a new vehicle went up $300 in the second quarter versus the Q1, bringing the average transaction price to $26,300. The upward swing in prices came at a time when the average household income remained stagnant. The average family needs 22.1 weeks of median family income to pay for their new vehicle purchase, up .3 weeks from Q1. According to the study, higher transaction prices were slightly offset by lower financing rates, down to

29New car customers stuck with old loans when dealers don't pay off the trade-in

Many consumers who buy a new car still owe money on the car they're trading in. The situation is usually handled by the dealer agreeing to pay off the old loan, the cost of which might be folded into the new car price. No problem a year ago, but it's a bigger issue now. With 5,000 dealers closing their doors last year, some of those old loans aren't getting paid off. Consumers who bought new cars are finding out they're still on the hook for the old car loans, and in some cases, if another consu

29Automakers still hungry, may get bailout for bad car loans

Last week Congress signed a bill that frees up $25 billion in low interest loans for all automakers (including non-domestics if they plan to spend the money on green tech) and suppliers that spend money in the U.S. to develop green technologies. That was a big deal for Detroit automakers struggling to stay afloat during an abominable automotive downturn.

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