Having trouble getting a car loan? Don’t worry – everyone hits a rough patch. But this time it may have less to do with that late payment and more to do with the automotive lending business. For the second consecutive quarter, lending institutions have tightened available credit – a seemingly cautious move that means car buyers with a “subprime” credit rating may be left taking the bus – or more likely paying a higher rate for their loan.
During the weekend prior to America’s celebration of 241 years of independence, the National Association for Stock Car Auto Racing (NASCAR) will hold a race at Daytona International Speedway. Contestants will drive vehicles that are styled to resemble the Chevrolet SS, Ford Fusion, and Toyota Camry, and after racing ‘em on Sunday, these car companies hope that NASCAR fans will buy ‘em on Monday.
Since cars lose as much as 19 percent of their value to depreciation after just one year of ownership, it’s possible to net big savings by purchasing a used vehicle. However, there is quite a bit of variance in the used cars that are on the market. Some are very old and have heavy mileage, with lots of wear and tear. On the other end of the spectrum, some used cars are newer, meticulously maintained, and in pristine condition.
Minivans are some of the hardest working vehicles on the market today. Sure, you may point to full-size pickup trucks as doing the dirty job of hauling and towing burly loads, but minivans are designed from their inception to carry the most important cargo of all: your family. They happen to be the safest, most practical vehicles around. As an automotive journalist, when someone asks me what the best car for their family would be, I automatically point them to a minivan.
When floods such as the one that recently submerged parts of Louisiana occur, they leave damage that lingers long after the waters abate. Lives are lost, homes are ravaged, and neighborhoods are forever changed. Even after the repairs are made, scars of the disaster remain, though they may not be immediately visible to the naked eye.