rateGenius Blog

Useful info to help you on your financial journey

by jguardione

A Guide to Auto Refinancing

1. Do it sooner than later. Because interest accrues every day, and since your vehicle becomes less valuable with every mile, the longer you wait, the higher loan-to-value (LTV) ratio you’ll have. LTV is an important factor for lenders when deciding to make you an offer. 2. Expect to have paperwork. No matter whether refinancing…

by jguardione

8 reasons why YOU should have a Vehicle Service Contract

Most of us have been there: we purchase our shiny brand new car, excited about driving our slick new ride and about taking advantage of warranty-covered service. Then, after the warranty expires, usually after two years, we’re still paying our car payments and still enjoying the drive, but now all of a sudden we have to […]

by jguardione

Loan-To-Value (LTV) Ratio: What it means for you

LTV is a number that compares the value of the asset to the loan that it secures. Put another way, when you purchase a car, your lender issues a loan plus interest to help you make the deal. Technically, because your lender issued the funds to purchase the car, that car is collateral in the […]

by jguardione

Interest Rate vs. APR – What’s the Difference?

Consumers often see the terms “APR” and “interest rate” in advertisements and in financial conversations and assume that they mean the same thing. Well, that assumption could cost you thousands. Interest rates are the percentage amounts that lenders charge you to borrow money. Interest rates vary heavily by borrower, type of loan, and lending institution […]

by jguardione

Auto refinancing in the military

Sometimes, both active and veteran military members perceive certain financial processes to be either more simple or more difficult because of their service. For example, benefits like VA Home Loans are available options to military personnel, but they can sometimes also increase the difficulty and speed of the home-buying process. In addition, the general circumstances […]

by jguardione

Navigating Relationship Changes and Title Transfers

 When any relationship ends or changes, it can be a difficult transition – especially if there are finances involved. Changing and separating your financial situation can be a daunting task; many people don’t know where to start, and once they do, it can sometimes seem like a complex process. Some tasks are easier than others […]

by jguardione

From the Desk of Roger Douville

Delinquency and Decisioning Last week’s employment numbers continue to shore up confidence in our economy, and with unemployment at 3.8% you would expect that delinquency rates would fall in kind. In some cases,  rateGenius’ weekly calls with financial institutions paint a different picture. We still see delinquency percentages stubbornly holding steady at historically “prime” lending […]

by jguardione

Debt-to-Income Ratio (DTI): The What and Why

If you’ve ever applied for an auto, home, or personal loan, you may have heard your financial institution mention your debt-to-income ratio. Your debt-to-income (DTI) ratio is the amount of all your monthly debt divided by your gross monthly income. This ratio is used by lenders to determine your ability to manage all of your monthly payments […]

by jguardione

Do you qualify to refinance?

A common misconception is that credit score is king – that it is the main determining factor for loan approvals, offers, and terms. Though credit matters, it’s not the only factor lenders consider. These misconceptions can lead to hesitation, which can lead to missing out on thousands in potential refinance savings. Rather than letting your […]

by jguardione

From the Desk of Roger Douville

My management philosophy I’ve been managing teams in the financial services industry for over 30 years and I dare say that there isn’t much that surprises me any longer. Maybe you feel this way too? Oh sure, I read the articles, attend the seminars, and converse with other professionals in an effort to gain further […]

by jguardione

What happens to a car after a loss

Circumstances such as your state’s DMV and Probate laws, existence of a Will, presence of a lien on the vehicle, and listed owners on the vehicle’s title, lien, and registration all influence the fate of your loved one’s car. Whether you are responsible for managing the estate or not, it’s important to understand your rights […]

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