Tampa Bay, Florida auto dealer and wholesaler Mohamad Jihad Fakih, 27, faces prison time after being found guilty of a scheme involving fraudulent loans, straw buyers, false insurance claims and a stolen Rolls-Royce SUV. Fakih was sentenced to four and a half years in prison for conspiracy to commit wire fraud and attempting to export…
Auto lenders today operate in a landscape defined by unprecedented market volatility and converging pressures. Exacerbated by pandemic-era lending practices and the acceleration of negative equity, the average size of personal auto loans has increased more than 20% since 2023, with consumers taking on more debt for their vehicles. When combined, these environmental factors create…
An auto loan hardship program can help you if you are facing a financial emergency and need help with your car payments. Eligibility criteria, fees and program options vary by lender. If you don’t qualify for an auto loan hardship program, there are other forms of debt relief. No matter how prepared you are, a…
Retirement confidence, or the measure of a person’s belief that they will be able to live comfortably after the decline of their career, is at a worryingly low level. According to the Pew Research Center, 40% of American adults do not feel confident that they have enough income and assets to last their entire retirement,…
The decisions made by the Federal Reserve to raise the benchmark rate do not directly impact auto loans, but rather the cost of borrowing for banks. The higher the Fed sets rates, the higher auto loan rates are likely to be. The Federal Reserve made its third and final 2025 rate cut in December, raising…
If you recently financed a vehicle, you may be eligible for a new tax break when you file for the 2025 tax year. Some auto loan interest is now tax deductible in certain situations under the One Big Beautiful Bill (OBBB) Act, major tax legislation that President Trump signed on July 4, 2025. Wondering if…
If you’re planning to borrow or refinance a loan soon, you may be wondering what’s in store for 2026. While nothing is set in stone, experts expect loan rates to decline slightly in 2026, but not dramatically. Interest rates are unlikely to return to the lower levels of a few years ago, but even a…
Debt often gets a bad rap, but not all debt is created equal. Some types of loans can help you build wealth, achieve long-term goals, or increase your earning potential. Other types, however, can affect your finances and make it more difficult to get ahead. Understanding the distinction between good debt and bad debt is…
