Auto Loan Helpers

THE TEN MOST EXPENSIVE CARS TO INSURE

Before you go applying for an auto loan, be sure to check out the model you have in mind to buy -- it may cost you more down the road for insurance.

"The choice of the car itself is going to affect, in particular, what you will spend for comprehensive and collision," says Jeanne Salvatore, senior vice president of public affairs for the Insurance Information Institute.

Another surprise: "A safe car is not necessarily the cheapest car to insure," says Salvatore. For instance, a "safety-minded" car could be more expensive to repair after an accident, which would increase insurance costs.

The top 3 cars with the most expensive collision losses, according to the Highway Loss Data Institute, are the Mitsubishi Lancer Evolution, followed by the Mercedes CL and the Dodge SRT-4. The least expensive? Perhaps not surprisingly, it's the Volvo XC90.

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CREDIT CRUNCH HITTING THE AUTO LOAN MARKET, TOO

Housing isn't the only market to feel the effects of the current credit crisis -- the auto loan market has been hit too.

As lenders raise their standards for approval, loan seekers are finding it increasingly difficult to secure financing. Those who can obtain loans are settling for lower-priced cars in some cases.

Some of the largest lenders are taking the most extreme measures. JP Morgan Chase now requires larger down payments and is limiting loan length for those with lower credit scores. CitiGroup says it will reduce the number of loans it grants, and has let some 800 workers go in its auto-lending department.

Even higher-credit types are feeling the pinch. "People with decent credit aren't able to get the terms they think they should get," said Michelle Primm, managing partner of the Cascade Auto Group in Cuyahoga Falls.

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