Not every vehicle in Missouri is driven throughout the entire year. Convertibles, classic cars, sports cars, recreational vehicles, work trucks, motorcycles, and extra family vehicles may spend several weeks or months parked between uses. Some Missouri residents also travel south during the winter and leave a vehicle behind until spring.
When shopping for a new or used vehicle, most consumers focus first on the vehicle’s price and expected monthly payment. However, another major factor can significantly influence the total cost of a purchase: the interest rate on the auto loan.
Auto loan rates do not remain the same from year to year. They rise and fall based on several factors, including inflation, economic growth, government policy, lender competition, and the overall financial environment. These broader changes are often described as part of an economic cycle.
Trading in your current vehicle should be an exciting step toward your next car, truck, or SUV. However, the process can feel more complicated when you discover that you owe more on your auto loan than your vehicle is currently worth.
This situation is known as negative equity, and it affects more drivers than many people realize. In the fourth quarter of 2025, 29.3% of trade-ins used toward new-vehicle purchases had negative equity. Among those upside-down trade-ins, the average amount owed above the vehicle’s value reached $7,214.
Buying a vehicle involves more than choosing a model and agreeing on a price. If you finance the purchase, you will also need to decide whether to add any protection products to the transaction.
Auto loan protection products are optional plans designed to reduce certain financial risks associated with owning or financing a vehicle. Depending on the product, coverage might help if your vehicle is totaled, requires a major repair, is damaged cosmetically, or becomes unaffordable because of a qualifying illness, injury, job loss, or death.
For many vehicle buyers, the monthly payment is one of the most important numbers in the entire purchasing process.
A customer may find the right truck, SUV, or car, love the features, appreciate the price, and still decide that the monthly payment is too high. To make vehicles more affordable on a month-to-month basis, lenders often offer longer repayment terms.
Long-term auto loans can stretch payments over six, seven, or even eight years. These extended terms can significantly reduce the required monthly payment, making a newer or more capable vehicle fit into a household budget.
Applying for an auto loan can feel confusing, especially when a lender says your loan is “approved with stipulations.”
That phrase may sound negative, but it usually does not mean your loan was denied. In many cases, it simply means the lender is willing to approve the loan after a few details are verified.
A stipulation, often called a “stip,” is a condition that must be satisfied before the lender will fully fund the loan.
The way people shop for vehicles has changed dramatically.
Years ago, most customers began the buying process by walking into a dealership, browsing the lot, meeting a salesperson, and discussing financing at a desk. Today, many buyers begin from their phone, tablet, or computer—often days or even weeks before they ever visit the dealership.
One of the most common questions I hear from vehicle owners is:
"Can I trade in my vehicle even though I still owe money on it?"
The short answer is yes.
The better question, however, is whether you should..
For many small businesses, a commercial vehicle is much more than transportation—it's an essential business asset. Whether you're a contractor hauling equipment, a landscaping company transporting crews, a plumber making service calls, a delivery company meeting customer expectations, or a growing fleet preparing for expansion, the right commercial vehicle can directly impact productivity, profitability, and customer satisfaction.
Inflation has become one of the biggest financial challenges facing American families. Whether you're buying groceries, paying utility bills, fueling your vehicle, or planning a family vacation, it seems like nearly every expense has increased over the past few years.
