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How
important is your credit report when applying for an auto
loan?
Very important! 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 -
they 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!
Below you will
find a list of credit reporting resources that you can use
to get a copy of your credit report.
Online resources
for getting your credit report:
| Online
Source |
Price |
Online
Availability |
Offers
3 in 1 credit report |
Offers
credit score |
Online Credit Info |
FREE
TRIAL |
Yes |
No |
No |
Equifax |
FREE
Trial or $8.00 |
Yes |
No |
No |
| *
Report is mailed |
More information on what your credit score is and how to
obtain it. Continue...
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