The Express Lane Blog

When making your car payment, you may have questions about how much you owe on your contract. Here are answers to a couple of those questions: How are your monthly payments applied to what you owe on your contract? Your monthly payments on your contract (the agreement you signed at the dealership) are a combination of the finance charge (interest) and the amount financed. The amount financed is the amount you agreed to pay the dealer for your car, along with any additional products and...
small-image-Understanding Your Car Payment (Interest-Bearing) 
When making your car payment, you may have questions about how much you owe on your vehicle. Here are answers to a few of those questions. What do you owe over the life of your contract? The amount you agreed to pay over the life of your contract (the agreement you signed at the dealership) is the total balance reflected in your contract. The total balance combines the amount financed (principal) and the finance charge (interest). The amount financed is the amount you agreed to pay the...
small-image-Understanding Your Car Payment (Precomputed) 
If you’re looking to upgrade to a new vehicle or replace your existing vehicle, trading in your car might be a helpful option, but knowing how is important. Maybe you want new vehicle features like parking assist, child safety features, or a rearview camera. Perhaps you want better fuel economy or need more room for your growing family. Trading in your vehicle for a new or used car may be the best option if you don’t want the hassle of selling it privately. It’s important to know how...
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If you’re considering buying a car, you may wonder what the difference is between a gas, hybrid, and electric vehicle. It’s important to know that there is more than one type of hybrid or electric vehicle when looking to buy a car. Perhaps you want to know which type of car is more cost-effective in the long run or want to help reduce emissions. Once you have a good grasp on the basics of hybrid and electric vehicles, you’ll have a better understanding of whether a gas, diesel, or electric...
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If you’re a first-time car buyer with no credit or cosigner, getting approved for car financing or other types of credit can be a challenge. Maybe you’re a recent graduate who’s just getting started in your personal and professional life as an adult. Perhaps you have plans to buy a car or home, but you need credit history to get financing. This is why it’s important to understand how credit works. Once you have a good grasp on the basics, you’ll understand ways you can start building...
small-image-How to Buy a New or Used Car with No Credit and No Cosigner
You take a trip to the dealership to test drive a car you’ve been eyeing for a while now. Everything is going great so far — the interior looks amazing, the car drives smoothly, and the features are everything you imagined. Then, during your test drive, the unthinkable happens. You collide with another driver on the road — not quite what you expected. So, what happens if you get into an accident while test driving a car?
small-image-What Happens If You Crash a Car During a Test Drive?
The last thing any driver wants to do is get into a car accident. But unfortunately, accidents happen. Fortunately, there are many accidents that can be avoided, and knowing how they are caused can help with prevention. Here are six of the most common causes of car accidents.
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Our stories and unique experiences are what make us different while connecting us at the same time. We frequently highlight one of our team members in a Share Your Diversity article featured on our Company’s community site. This provides a safe space for team members to share who they are while bringing awareness and a unique perspective to cultural topics that other team members may not be knowledgeable about. Check out a few excerpts from previous Share Your Diversity stories.
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Credit Acceptance takes pride in providing ways for our team members to reflect, take time off and/or engage in activities that promote and bring better awareness to each other’s diverse backgrounds and culture. This is promoted in a way that creates acceptance and inclusion for all. We have implemented ways to do this through some of these initiatives.
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Credit Acceptance has always promoted fair and equal treatment of our team members by cultivating a Great Place to Work environment that brings positivity and awareness to our diverse team culture. During the Covid-19 pandemic in 2020, the tragic, public murder of George Floyd in Minneapolis, Minnesota, shed light on a much deeper issue that has plagued our nation for centuries: social injustice. With our Company comprising more than 50 percent of minorities, we knew we needed to provide...
small-image-Our Journey with Diversity & Inclusion
Technological advancement continues to be a driving force (pun intended) of the automotive industry — from the rapid rise of electric vehicles to advanced driver assistance technology. With companies like Google paving the way for autonomous, a.k.a. driverless, vehicles, people are wondering how this will change the trajectory of transportation, and if self-driving cars will eventually replace human-operated ones. Since driverless cars are still in the early development stage, it’s too...
small-image-Will Self-Driving Cars Replace Human-Operated Cars?
If you’ve recently filed for bankruptcy or have a bankruptcy listed on your credit report, you may be wondering how this affects your ability to make major purchases like buying a car or home. Although a bankruptcy stays on your credit report for seven to 10 years, it’s possible to get approved for financing with a bankruptcy on your credit history.
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Getting a car loan or financing is a practical means for buying a used car, especially if you don’t have the savings set aside to purchase a vehicle outright with cash. Here are some steps you can take on your journey to getting approved for used car financing: Check your credit report. Since your credit history plays a crucial role in your car buying journey, it’s important to check your credit report beforehand. You can obtain one free copy of your credit report every 12 months from...
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Before you begin the car buying process, it’s important to understand what exactly you’re looking for. Asking yourself practical questions during your car search will help guide your decision making. Here are several to help you get started:
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With the end of summer near and cooler weather approaching, it may be a good time to start prepping your vehicle for the upcoming fall and winter seasons. Colder temperatures can take a toll on things like your car’s tire traction and windshield durability. Plus, October is National Fall Car Care Month, so it’s never too early to get a head start on your seasonal car maintenance. Here are several ways to prep your car for the fall and winter months:
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As challenging as it can be to get approved for a car loan or financing when you have a compromised credit history, finding a local dealership that offers approval for auto financing to car buyers with bad credit or no credit is much simpler than it may seem. Whether you’re shopping for a new or used vehicle, there are plenty of dealerships that can help you get approved for financing to buy a car — specifically, dealers enrolled in the Credit Acceptance program.
small-image-Dealerships that Offer Auto Financing for Bad Credit and No Credit Car Buyers
While car buyers typically focus on the type of vehicle they want to buy and how much they can afford, auto financing plays a key role in one’s ability to buy a car. If you don’t have cash available to purchase the vehicle outright, you can either apply for a direct car loan or indirect auto financing. What is a direct car loan? A direct car loan is financing for which you can directly apply with a consumer lender, bank, or credit union. When applying for a direct car loan, you will work...
small-image-The Difference Between Direct and Indirect Auto Financing
Shopping for a car can be exciting and overwhelming at the same time because there are multiple factors that go into deciding which vehicle to purchase. Outside of price, other factors include quality, reliability, and cost of ownership. Here are a few important factors to consider when shopping for a car.
small-image-3 Factors to Consider When Choosing a Car
Adulting can come with its fair share of challenges, especially pertaining to your finances. Whether you’re a first-time car buyer with limited credit history or someone who’s experienced financial hardship (i.e., bankruptcy, repossession, foreclosure, etc.) that resulted in bad credit, we’ve created a comprehensive guide to help you along your credit and car buying journey.
small-image-The Ultimate Guide to Buy a Car and Improve Your Credit
Depending on how you use it, having a credit card can come with positive or negative outcomes. If you have a limited credit history or no credit history, a major advantage is that it can help you build positive credit. On the flip side, misusing your credit card by spending beyond your means can do some serious damage to your credit. Understanding the pros and cons of using a credit card is important, which is why we’ve compiled a list of them below:...
small-image-Pros and Cons of Using a Credit Card