LANE 1 MOTORS BLOG - ST. LOUIS, MO

Trade-in vs Refinance: What's Best for Your Car Loan?

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Your car loan.

That pesky bill that hangs around month after month. If your current car loan has saddled you with high interest rates and expensive monthly payments, it's time to find a way out.

Two of the easiest and safest options for getting out of an unaffordable car payment are trading in the car for a different, more affordable vehicle--or, choosing to refinance your loan through the bank and get better rates.

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This One Thing Could Change Your Credit for Good

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Although there are a lot of great tips for keeping your credit on the up-and-up, there's one big rule that will make all the difference in the health and stability of your credit history and corresponding scores:

Make payments on time, all the time.

Month over month and year over year, timely payments are the most important thing that will be able to have a big positive impact on your credit.

Remember, though--anything that has a big positive impact when done well, can have a big negative impact if it's not done.
 

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5 Vehicles You Should Definitely Buy Used

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There are a few vehicles out there that hold onto value with such an unyielding grip that is actually is fairly financially smart to buy them new, and get the full benefits of that value.

However, those cars and SUVs tend to be rare in the automotive market, and they tend to be really specific models--like the Jeep Wrangler, the Subaru WRX, the Toyota 4Runner, and other "legacy" icons that seem to never go out of style.

Then, there are others.

Models that are upgrading and changing so often that used versions depreciate more than the average within the first…

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How Will You Use Your Tax Refund This Year?

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Whether you have your eye on plane tickets, or a new TV, or the newest smartphone for when your tax return check comes in, you're definitely thinking hard about the best way to use your money.

But, if you want to use your tax refund the most to your advantage, think about how you could put that money--whether it's $300 or $3,000--toward your car loans.

That tax money could be what gets you into the budget-friendly sports car that you've had your eye on. See how.

 

 

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Responsible Car Buying Starts With the 20/4/10 Rule

 

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If you're shopping on a budget, you may think that you need to scrape the bottom of the barrel to find a vehicle that you can afford.

But, if you follow the 20/4/10 Rule--a guideline recommended by experts from every corner of the financial industry--you may be surprised by how much car you can afford.

And, when you shop with Lane 1 Motors, you'll be surprised by how many options there are in your price range.

Check out what's recommended by the 20/4/10 rule, and see if an affordable pre-owned car is…

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How to Check Your Credit Online for Free

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Knowing your credit scores--and getting a look at your most recent credit report--can significantly change the way you shop for an auto loan in St. Louis. Especially if you have bad credit or if you have no credit.

But if you want that info straight from the source (Experian, Equifax, and TransUnion) you often have to pay for it. And for many of our local clients shopping for an affordable car loan, shelling out $20-40 for every single report is not a feasible option.

Fortunately, there is a solution! Free credit reports, as well as free credit scores, are readily…

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Do You Have Credit Resolutions for 2018? Here's Why You Should

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Make Your Resolution for Better Credit Now

 

Many of us make resolutions for the New Year--typically for fitness or diet, to adventure or travel more, to be kinder, or to take risks in search of rewards. Whether we follow them or not, that's another story.

But making a New Year's resolution to work toward better credit--or to establish good credit from nothing--is easier than you might think (especially with our Lane 1 Motors credit tip blogs!), and it's definitely something you should have on your list.


 

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Got an Old Paid-Off Loan? Leave It on Your Report!

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Did you know that having "old" accounts on your credit report are actually good for your credit score?

If you're shopping around for a bad-credit car loan in St. Louis to get a new set of wheels, you may be tempted to find a way to erase those old accounts--even if they've been paid off--from your history.

But, since a decent part of your credit score is based on the number of accounts open (not too many & not too few is right where you want to be) and the average age of all of the accounts present on…

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Things to Do in St Louis This Holiday Season

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Whatever your perfect winter season looks like in Missouri, you can find a fun, local event around St. Louis to enjoy with friends and family.

If there's anything we love more than helping bad-credit and no-credit buyers find a car they'll love, it's celebrating the most magical month of the year. Here are four fun and family-friendly events to check out near St. Louis this December. What are you most looking forward to?

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First-Time Buyers in St. Louis Can Still Get a Great Used Car

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You're a student, ready to buy their first car before college. Or, you've been borrowing friends' and partners' cars for years and it's now time to get your own wheels. Or, you've been a faithful user of the public transportation system all around St. Louis but now you need a bit more mobility.

Whatever your reason for getting a car now, the financing team at Lane 1 Motors can work with you to get the best first car for your unique needs: commuting, traveling to and from college, or just enjoying the freedom of the open…

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