Sentences with phrase «on an auto loan means»

Being «upside down» on an auto loan means the borrower owes more money on the vehicle than its worth.

Not exact matches

42 percent didn't understand what it means to be «upside down» on an auto loan while 62 percent were unfamiliar with the term «gap insurance.»

Knowing that bad credit is not the grounds on which bad credit auto loans might be rejected means it is very possible to ensure approval is granted.

Not only does good credit mean the difference between getting approved for something like a mortgage or an auto loan and being denied, but it could have a huge impact on the interest rate that you'll be charged.

The majority of our auto title loans are written as «installment loans» meaning that if the customer makes their payments on time at the end of the loan the account will be paid in full.

Let's say you use an auto equity loan to consolidate debt, this means that you're putting your car on the line if you fail to make a payment.

Auto loans are secured loans, meaning the value of your car acts as security against you defaulting on the loan (i.e., if you can't pay them back, they take your car to recoup the loss), offsetting some of the risk.

Not surprisingly, people without credit scores on file at the main three bureaus — which factor in data about credit cards and college and auto loans — typically have low incomes and, as a result, often lack the means to purchase property.

On the other hand, mortgages or home loans, auto loans, and the like are considered secured debt, meaning there is a specific piece of property that can be collected if you fail to pay your lender.

The company also offers unsecured auto loans to well - qualified customers, which means there are no restrictions on the vehicles they buy.

At its most costly for the Treasury, this could include a possible cut in National Insurance rates for younger workers but is more likely to mean pension auto - enrolment extended to workers below the age of 22 and more concessions on student loans.

A higher credit score will mean not only lower premiums on car insurance, but also better rates on home and auto loans, and access to a better class of credit cards.

To qualify for an auto title loan, you must have the title to the car, meaning you can't currently have a loan out on the vehicle.

That means that bankruptcy not only means higher interest rates on loans, but it can also mean sky - high auto insurance rates.