How important is your credit report when applying for an auto loan?

Lenders use your credit history as the #1 factor to determine if you are a good candidate for a loan. Your credit report will be examined carefully for -

• -Signs that you act responsibly when it comes to paying your debts on time.
• -Your income and how it corresponds with your debts.
• -How much credit you have available to you.

Is it true that the better your credit history, the better interest rate and loan amount you may qualify for?
Absolutely! The consequence of being considered less creditworthy may not keep you from qualifying for an auto loan, but it can be an expensive factor when determining -

• The interest rate of that loan.
• The down payment required.
• The amount you are qualified to borrow.

Save yourself a bundle by checking your credit report first. There's no reason to settle for less of a loan at a higher interest rate, or come up with an exorbitant down payment when you don't have to. Know what's on your credit report. Look for -

• Mistakes - happen more often than you think and they are easy to dispute and correct.
• Inquiries - may have a negative impact on your credit worthiness. Find out who has been looking at your credit report.
• Collections and Charge-offs - should be paid in full to increase your credit worthiness.
  Now that you have the facts, find out what is on your credit report now!

Online resources for getting your credit report:

Online Source	Price	Online Availability	Offers 3 in 1 credit report
Online Credit Info	FREE TRIAL	Yes	yes
Equifax	FREE Trial or $8.00	Yes	No
* Report is mailed

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