Ford is removing the credit-score minimum for 84-month car loans

Think things through before you commit to a seven-year Car Loan. Photo_Concepts via Getty Images For most of us, Buying a Car involves getting a Loan, whether from a bank, a Credit union or an Auto manufacturer’s captive finance company. Whether or not we’re approved for that Loan is determined by our Credit score — except, in one case. According to a report published by CarsDirect on Friday, Ford has removed the minimum Credit score requirement for its 84-month Car loans. This can be considered problematic for a few reasons. Typically, a minimum FICO score is taken as an indicator,…

What Happens If You Don’t Have Car Insurance?

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Nearly one in eight drivers do not have Car Insurance, according to a 2021 report from the Insurance Research Council. Joining this not-so-exclusive club is a terrible idea. Not only will you face legal consequences, such as fines and even jail time, but you’ll also face Insurance consequences. And if you cause a Car accident that results in property damage or injuries when you’re driving without Car Insurance, the financial fallout can be devastating.…

How to Buy a Car Online

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. The Covid-19 pandemic shifted the way people shop—moving transactions like groceries, day-to-day purchases and cars from in person to online. In fact, in 2020, nearly 30% of Car sales were made online, compared to only 2% before Covid. However, this doesn’t make the purchasing process less risky, so it’s crucial to have a plan to help you buy online successfully. Follow these four steps to buy a Car online. 1. Set a Budget Buying…

Why Is Brooklyn Car Insurance So High? – BK Reader

Car Insurance in Brooklyn is no joke. If you’ve tried to insure your Car while living in Brooklyn, you’ve probably discovered this for yourself. Car Insurance in Brooklyn is much higher than anywhere else in the country — the average Car Insurance rates nationwide range from $700 to $1,000 yearly, depending on your age group. The average Insurance rate in Brooklyn? An average of $3,500 yearly, over 140% the national average. That’s even higher than many of the rates for other boroughs in NYC: the average yearly rate in Queens is $2,400; $1,400 in Brooklyn and the Bronx. So why…

Car Lease Insurance: Costs, Plans, And How To Buy (2021)

Advertiser Disclosure Whenever you lease a vehicle, there are minimum Car lease Insurance requirements you must satisfy before hitting the road. Luckily, the best auto insurance companies make it easy to meet the basic standards needed for Car lease Insurance. After thoroughly reviewing industry leaders, we’ve determined the top Car lease Insurance providers across the country. We’ll explain minimum Car Insurance coverage requirements, average costs, and the process to set up Car lease Insurance.   In this article: Do I Need Car Lease Insurance? When you lease a vehicle instead of Buying one, you’re still required to carry the state-mandated minimum…

Car Insurance for Ferraris | Bankrate

Ferraris are some of the most sought-after sports cars on the market. If you own one, however, you may have trouble getting regular Car Insurance. Some car insurance companies will not insure exotic vehicles like Ferraris, which means you might have to purchase a special type of Insurance to get adequate financial protection. In terms of Insurance costs, the average cost of Ferrari Insurance is likely pretty expensive, as rates are based on the vehicle value and safety risks associated, among other factors. Ferraris are rare and can cost upwards of $200,000, so the average Insurance premium for a Ferrari…

6 ways to save on car insurance in 2021

Boonchai Wedmak People are driving again. An analysis published by Apple shows that mobility is significantly up in the US since last year, when the COVID-19 lockdown was much firmer. With the school year in full swing and many employees returning to the office, a lot of people are traveling and driving more. Though some Insurance carriers reduced premiums and offered discounts during the height of the pandemic, according to the Insurance Information Institute, as the world slowly returns to normal, some experts are forecasting an Auto Insurance cost spike. If you’re driving more, your Auto Insurance premium might be…