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10 Best-Ranked Used Pickup Trucks under $20,000

Pickup trucks are great; they haul all your cargo, are super comfortable to drive, and can withstand rural roads and bad weather.  Many smaller trucks even boast fuel economies approaching that of cars.  Buying used is a great way to avoid the “sticker shock” of buying new, but that doesn’t mean it’s any easier to know what to buy.  Luckily, G&E Motors has some ideas for you.  While it’s impossible to get a consensous among industry experts, G&E Motors has compiled a list of 10 of the top used trucks that can be bought for under $20K to help you find the perfect pre-owned truck for you!

2017 Chevrolet Colorado

Need a truck but feel like a mid-size SUV is more your style?  Consider purchasing the 2017 Chevrolet Colorado.  You can keep the price tag under $20K by choosing the extended cab with a 4-cylinder engine, or by opting [...]

How to Get an Auto Loan After Bankruptcy

No one wants to declare bankruptcy, but sometimes it’s really the only way out. It does help you deal with large amounts of debt and get your life back on track, but it’s not without its downsides. A bankruptcy will stay on your credit report for seven years or more, depending on what type of bankruptcy you filed for. That will greatly affect your ability to get new loans and lines of credit, including an auto loan.

But if you need a new car and have declared bankruptcy recently, the good news is that it’s not impossible to still get an auto loan. It’s likely going to be more difficult, but with some planning and understanding of how credit works, you can get the car you need. Here are several things you can do to show lenders that you’re recovering financially and can handle the monthly payments.

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Great Used Car Values Under $10K

If you’re starting to shop for your next vehicle and have a slim budget, you may think that it’ll be difficult to find a quality car that also meets all of your needs. However, there are makes and models that are better than others on the used car market, meaning you’ll get more for your dollar for both durability and reliability. And don’t be afraid to talk to the experts. Here are our 10 fantastic used cars you can find for less than $10K, including a few luxury finds and vehicles perfect for larger families.

2010 Ford Fusion

Check out the roomy and sporty 2010 Ford Fusion for an ultra-reliable sedan that still feels sleek. The updated model in the Fusion line (which dates back to 2007) makes the car feel modern, even compared to newer vehicles on the road. The slightly longer body gives more room in the [...]

Buy Here Pay Here

If you’re looking for a pre-owned vehicle, you may have heard or seen Buy Here Pay Here (often shortened to BHPH) in reference to independent financing at used car dealerships. The short definition is pretty self-explanatory: you make one stop to both find your car and finance it, instead of needing to deal directly with a bank or finance company.

Understanding how a dealership is able to offer this kind of financing can get a little more complicated. At G&E, we want you to know exactly what type of financing is available and how we’ll work together, whether you opt to finance with a traditional financial institution or start a BHPH plan through us.

Traditional Auto Financing vs. BHPH

The majority of auto dealers have a financial lender portfolio they go through when you are looking to purchase a car from them and will crunch numbers such as your credit score [...]

What’s the Maximum Car Loan I Can Get with Bad Credit?

There are many questions surrounding the process of getting approved for an auto loan with bad credit or challenged credit history. Although some lenders may approve a larger loan so you can finance your dream car, this may not actually be a good move for you to improve your credit score in the long run.

Larger loans for borrowers with low credit scores usually also come with baggage: longer loan terms. This means that you’ll be paying a higher interest rate, and it will take you much longer to pay off a vehicle while its value depreciates. So, what is the maximum car loan you can get with bad credit? And is it a good idea to max out your loan options? 

Loan Amounts vs. Credit Scores

To start, make sure you’re working with a financing professional who has experience in finding solutions for [...]

10 Tips For Saving on Your Car Loan

The process of finding your new car and getting a great loan can be a whirlwind experience. Once you drive off the lot and the dust settles a bit, it seems like the most daunting part is just beginning: paying off the loan over the next three to five years. Paying your auto loan is useful in many ways; it helps you finance your car over an extended period of time and can increase your credit score as you prove to be a reliable borrower. But what if there is more you can do with the loan to make it work in your favor, and help you save money in the long run?

Base Your Plans Around What Kind of Interest Applies to Your Loan

Is your loan based on simple interest or compound interest? Most auto loans use simple interest, or interest that is only calculated [...]

What You Should Consider When Refinancing Your Car Loan

In 2017, more than six million Americans were at least three months behind on their auto loan payments. As the payout term for auto financing continues to rise, making sure you are making the right choices in loans and lenders is more important than ever. Refinancing your car loan is one way to improve how your loan works for you and your budget.

Refinancing a loan refers to when you apply and receive a loan to cover your former loan, while using the vehicle itself as collateral. With any loan, you submit some kind of security that informs the bank that you will make your payments. Most loan terms dictate that not meeting your payments for 90 days can result in car repossession. Missed payments and repossession should be avoided at all costs, as the repossession stays on your credit report for seven years.

A number [...]

Getting a Car Loan Even with Bad Credit

For many, securing financing for a much-needed car can be a real nightmare. A minority of Americans can walk into an auto showroom and pay for a slick, cutting-edge vehicle in full without breaking a sweat. To them, buying a new car may be as simple as picking up a new television or games console – a nice addition to their life rather than fulfilling an essential transportation need.

For the rest of us, though, investing in a car is a much more complicated, stressful matter. We all have our own reasons for buying a vehicle, whether it’s needing to take the kids to and from school, drive yourself to work, go grocery shopping, or, most likely, a combination of all four. In short, always having access to your own car is a vital need and a convenient way to get from A to B as [...]

10 Best Used Car Buying Tips

Buying a used car is an ideal way to save money and avoid the expensive price tags attached to brand-new models. However, you still need to approach the purchasing process with the same level of consideration and caution you would when investing in a factory-fresh vehicle.

The following 10 best used car buying tips will give you all the help you need to get great value for money from your local dealership. 

Understand What You Want

First and foremost, think about the most practical aspects of your ideal used car. What do you need from it, and why?

  • Do you need to fit three kids in the back, or is it just for yourself?
  • Do you need the vehicle to cope with certain extra strains, such as hauling a trailer or driving in extreme weathers?
  • Do you expect to make long journeys on a regular basis, or is [...]

Financing with Bad Credit  

10 Questions to Ask Your Car Dealer About Financing with Bad Credit

The process of buying a new car can be challenging enough, but it only gets more so when you have a bad credit score.

The vast majority of people need a car to get to work, to drive their kids to school and back, and for all those everyday chores. Finding a loan to cover the price of a new vehicle can be extremely difficult with a bad credit score, as many banks and lenders will see you as a risky investment. Visiting a used car dealer, though, can make things much easier. Certain dealerships will be happy to offer financing to customers with lower credit scores, but what questions should you ask before you can make an informed decision?

 

  1. Is There a Minimum Credit Score I Need?

This is perhaps the most important question – it enables you to know whether or not you can actually qualify for the dealer’s [...]

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