One of my coworkers at the credit union recently forwarded me a news clip about a single mother whose car caught on fire. The young mother was stunned when she learned that although the car was totaled by her insurance company, she still owed $5,000 on the loan she'd taken out to buy the car. On top of this stress, she needed a new car to replace the one that had been totaled. You can see the news clip here.
Use Hanscom Federal Credit Union's online car-buying resource, and browse thousands of new, used, and certified pre-owned vehicles from different dealers.
Leasing a car can be an attractive option. It affords you the opportunity to make lower payments on a better make and model car than you might otherwise be able to afford. The down side, however, is that leases have rules, lots of them.
A car loan is helpful. But a good car loan can make a dramatic difference in your life. It can save you money, reduce worries, and minimize hassles. And at Hanscom Federal Credit Union, we specialize in good car loans.
Many people would rather purchase their own cars and won't even consider leasing a car. Their reasoning is usually along the lines of - "Why would I rent when I could buy?" At first glance, it's a sensible argument, so it's no wonder many folks share the same idea.
Having a car provides many conveniences. You do not have to worry about lugging groceries on the bus or waiting 45 minutes for the train. However, for those experiencing financial problems, having to pay a car loan can make owning a car seem more like a burden than a convenience. If you are behind with payments, or worried you will be soon, assessing your financial situation and actively pursuing your options can help you make the best of a difficult situation.
You've taken the test drive, fallen in love, and negotiated a great deal at the car dealership. What do you have to do to get your money and drive away happy?
With the flood waters of hurricanes Harvey and Irma now easing, a new kind of flood is taking place. It’s created by a wave of waterlogged cars that are heading to the scrap yard. While it may seem that a car should be salvageable once it dries out, that is not the case. Water damage corrodes the mechanics of a vehicle, making it unsafe to drive.
Drivers with a lot of tickets for moving violations or multiple accident claims om their record pay dearly with high car insurance premiums. The only cure for that is time. But if your rate is higher than you like, there's a lot you can do now to getting a better deal. Here are seven things to try.