Your credit score is a number that indicates the level of risk of default you represent to a creditor at a given moment in time. There are several scoring models, but most are based on the FICO Score, a credit score created by the Fair Isaac Corporation, which is used in most lending decisions. It ranges from a low score of 300, which represents an extremely high risk, to 850, representing an extremely low risk.

Auto leasing has been growing in popularity and has its own set of considerations. In basic terms, a lease means that you have the vehicle for a fixed number of months. Consequently, you only pay for the use of the car during that period, the full depreciation of the car is not forced upon you. One of the benefits of leasing a car is the low out-of-pocket cost.

One thing that bad credit usually doesn’t prevent you from getting is a car loan. Today, nearly anyone can get a car loan, even if you have bad credit.

Leasing a car and getting a car loan are very similar; both are just forms of car financing.  As everyone knows, with a car loan, you borrow money from a lender and make payments until the loan is paid off, at which time you own the car.

Buying a car on finance/with a car loan is a great decision for many people, as it allows them to drive the car they really want, without hurting their cash flow. In fact, for many people, this will be the only way to afford the kind of vehicle that they always imagined driving. But it does create some more complicated questions that you might not have had to consider otherwise. For example: should you pay off your car before trading it in? Let’s find out.

For anyone who wants to buy a car, the best option is usually getting a loan to fund their purchase. When looking at cars, the first thing you'll see is that the dealership gives you the offer of a loan to buy the car you like right now. This is enough for most people to sign right on the dotted line: It's instant finance for your car, after all. But what if approaching a car dealership isn't the best way for you to get a vehicle loan?

When most people want to save or invest their money, the first place they approach is a bank. Credit unions are becoming an increasingly popular alternative, and there are many reasons why credit unions might be better for both individual and business finances over heading straight to the bank. Here are a few of the main differences between credit unions and banks.

It’s a new year and Metro Credit Union is happy to introduce Save and Succeed, a FREE, online literacy program through Metro Credit Union. Explore Metro Credit Union’s Save and Succeed courses to improve your money skills on topics like credit, investing, financial goals, career objectives and more.

When the decision to buy a vehicle arises, there are a number of things to consider before signing on the dotted line. Take the time to research and become familiar with the car buying process. Buying a car is a significant investment and having a clear understanding of what you want and need in that vehicle will ultimately help you get the best deal for your money.

Nothing feels better than getting your first car, it is one of life’s most memorable moments. Being a first-time buyer in today’s world gives you countless options, all available at your fingertips. This road map will help you navigate the process of purchasing your first car.