Even before starting the application process consumers with problem credit should first check their credit reports in order to get the least expensive car loans they possibly can
Helping with auto credit
Here at Auto Credit Express we believe the results speak for themselves when applicants with questionable credit allow themselves some time beforehand to first check their credit reports before applying for a car loan.
That’s because we’ve spent a great deal of time over the past two decades helping car shoppers with bad credit find dealers that understand their situations and can help arrange for approved auto loans. It also led us to design a website that contains a resource section explaining topics such as repossession and down payment requirements.
And while we also present suggestions on other aspects of the credit repair process, we recently came across an article from the U.S. Government’s web portal that does a good job of explaining how to improve credit and credit scores.
This is what it had to say:
5 Steps to Help You Improve Your Credit Score
So what should you do if you want to improve or maintain a good credit score? The following tips might help.
1) Request a free credit report
You can request a free copy of your report every 12 months from each of the three main credit bureaus: Equifax, Experian and TransUnion.
The official website to get your free credit report is www.annualcreditreport.com.
2) Understand Your Credit Report
Understanding your credit report will help you make better decisions when it comes to your finances, because your credit score is based on your credit report. It includes personal information about you such as:
• Your payment history.
• How many loans you have and how much you owe.
• If you have ever filed for bankruptcy.
3) Check Your Credit Report
Sometimes information on your credit report might be incorrect or incomplete. That’s why you should check it periodically.
If you do find a mistake, these agencies must:
• Investigate the discrepancy usually within 30 days and correct it if necessary.
• Notify the company that provided the incorrect information.
• Provide you with a free copy of your credit report if changes are made.
The Federal Trade Commission has more detailed information on how to access free credit reports.
4) Pay Your Bills on Time
Paying your bills on time is an important factor in determining your credit score and showing your creditors that you are a responsible consumer. But there are other factors that might impact your credit score:
• Be selective when you apply for credit as too many applications may negatively affect your score.
• Don’t go over your credit limits. In fact, it is better to stay well below them.
• Pay down your debt with regular payments.
5) Get Professional Help
A budget might help you pay your bills on time. If you owe too much or are unable to pay your bills, you might want to consider a credit counseling agency. They can help you to manage your finances or figure out a plan to pay off your debt.
Be careful when seeking out these services, they might charge excessive fees and that can put you deeper in debt. The Federal Trade Commission has more information about credit counseling agencies and how they can help you improve your credit score.
How we can help
In many cases cleaning up your credit and improving your FICO scores doesn’t go far enough towards qualifying for a traditional car loan.
If this is the case, you should know that in most cases there are options besides a BHPH car dealer. At Auto Credit Express we specialize in helping applicants with damaged credit find those dealers that can give them their best opportunities for auto loan approvals.
So if you’re ready to reestablish your car credit, you can begin now by filling out our online auto loans application.