
What to do if you can’t make your last car loan payment
Missing a car payment has the same result on the first installment as the last.
About the author
Rebecca Betterton, a Certified Financial Education Instructor℠, is a writer for Bankrate who has been reporting on auto loans since 2021. Through her writing, Rebecca aims to provide clarity and accessibility to the automotive loans industry as the cost of financing new and used vehicles continues to climb due to steep inflation.
She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car, but recently widened her scope to cover personal loans and other debt topics. Prior to her time at Bankrate, she was a social media reporter and copywriter.
When Rebecca isn’t researching recent trends in personal finance, she is an avid runner and a lover of interior design.
Missing a car payment has the same result on the first installment as the last.
Private party auto loans let you finance vehicles from private owners.
Answer some key questions before buying a car with your partner.
You may be able to save hundreds by working with a direct auto lender.
Equity will determine whether you can easily trade in a car that’s not paid off.
Buying a car from a private seller can save you money, but take precautions.
Weigh what these two big bank lenders have to offer.
The total amount you qualify for largely depends on your finances.
These lenders offer home improvement loans even for borrowers with bad credit.
A personal loan is used for financing large purchases or covering major expenses.
The average down payment on a car is on the rise.
Installment loans are a type of financing that has fixed interest rates and are paid back over a set number of months.
You still can snag a personal loan with a low credit score. Here’s how.
Unlike credit cards, installment loans are close-ended debt products.
Calculate your interest payments and determine how much interest you’ll pay overall.