You realize that you need to purchase a vehicle, only to discover that you have little to no credit history. While it’s great that you don’t have damaged credit, you may have just as much trouble obtaining financing as someone who does. This is because lenders have no way of knowing whether or not you are a loan risk.
You need a car. And while you could pursue a used vehicle purchase, you really want to avoid the repair bills that are associated with older vehicles. A new car would be ideal, but can you buy one with damaged credit?
The 5 C’s of Credit are the key elements a lender is evaluating during the loan application process.
What do you do if someone steals your identity? No one wants to consider this as a possibility, but if it does happen, you will need to act as quickly as possible. Identity theft may cost you time and money, and it can wreak serious havoc with your credit rating.
Now is the perfect time for some car maintenance for the fall, as the autumn season can bring harsh changes to weather conditions.
Finding a dealer on your own is a time consuming process, and can be risky if you are trying to locate one who will work around your bad credit. Because of this, you may be tempted to go with the first one that is simply able to approve you. But that can be dangerous.
Many people do not know that your credit report and credit score are two separate things. Here is a rundown of each of the two so you can have a better understanding of your credit.