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Guaranteed Auto Credit and Credit Reports

Before applying for guaranteed auto credit you might first want to check your credit report

What we do

You may be thinking of applying for guaranteed auto credit. But before you do, you may first want to check your credit report. We feel this way because at Auto Credit Express we’ve been working with poor credit car buyers for more than two decades at the retail and, more recently, in another way.

The other way has to do with personally seeing the embarrassment and frustration that customers with bad credit often face. To help these buyers find the right dealer, we created a web site that includes a secure bad credit auto loan application. These applicants are then matched to a nearby dealer that specializes in customer credit issues for their best chance at an approval for a second chance auto loan.

The alternative, a guaranteed auto credit, tote the note car dealer, is not a good option since these dealers usually don’t inform the credit bureaus of loans or timely loan payments. Taking out this type of loan also means a greater chance of repossession.

And speaking of guaranteed auto credit and credit bureaus, let’s discuss what a credit report actually is.

Your credit report

A credit report is simply a credit bureau’s record of your borrowing and payment history. Banks, credit card companies and many other places that extend you credit report usually report how you paid them to one, two or even all three of the major credit reporting agencies in the United States – Equifax, TransUnion and Experian. This type of credit is known as “applied for” credit – which simply means that you requested to borrow money from the reporting merchant or lender.

Your credit report may also contain certain “not applied for” credit entries. These entries include items such as bad checks, medical bills and any tax liens or civil judgments – that is, bills that you owe that are not a result of a credit application.

What’s the difference? It’s simple: If you pay all your bills on time, you won’t have any of these “not applied for” entries listed on your credit reports.

Viewing your credit reports

Viewing each of your credit reports will also let you know if there is anything that they contain that is incorrect. If there is, many of these entries can lower your credit score. If you plan on buying a car, being aware of what’s on your credit report and knowing your FICO score will tell you whether or not you might qualify for a regular car loan or if you need to find a dealer that specializes in bad credit car loans.

The dividing line for either type of loan is not always black and white, but generally speaking, if your credit score falls below 640, you will typically need to apply for a bad credit auto loan.

Where we fit in

If you’ve already checked your credit report and determined that you may need to visit a guaranteed auto credit dealer, before you do that you might want to check out auto loans for bad credit. The best place to do that? We’re glad you asked.

At Auto Credit Express, we specialize in placing customers with bad credit with dealers that can help them. These affiliate dealers are knowledgeable and work with a broad spectrum of lenders to ensure the best chance at getting approved for a car loan.

So if you are serious about getting your car credit back on track, you can begin the process right now by filling out our online bad credit car loan application now.

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