Author Archive: Steve Cypher
FICO Score 9 to Narrow Credit Score Differences

Both discrepancies and differences in data can cause consumer’s credit scores to differ from credit bureau to credit bureau. According to FICO, FICO Score 9 should make the credit scores among bureaus more consistent.

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New FICO Score Could Help Poor Credit Borrowers

The newest FICO score will help borrowers with problem credit in at least three ways. For one, it will lower the impact of

unpaid medical collection accounts. Secondly, it will ignore collection accounts that have been paid. Finally, it will more

accurately assess consumers with limited credit and checkered payment histories.

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Is August the Best Month to Buy a New Car?

Contrary to popular belief and at least according to the information gathered by TrueCar, the best overall month to buy a new car is the month of August. Credit-challenged buyers might also want to examine their loan term versus the length of the new car warranty and stop to consider whether or not purchasing additional warranty coverage might be to their benefit.

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Preparing for a Subprime Car Loan

A little preparation up front can save a lot of exasperation in the long run when it comes to applying for a subprime car loan.

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Best Certified Used Cars for Poor Credit Buyers

Car buyers, especially those with blemished credit, should never confuse price with cost. The price is what you pay for a car, while the cost includes all the expenses involved over the course of ownership.

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New Cars Get Slightly More Affordable

Despite the fact that the average price of a new car is a bit more affordable, borrowers with past credit issues need to lower their sights if they’re financing one with a subprime loan. In addition, they should always maximize the down payment while keeping both the loan term and payment-to-income ratio to a minimum.

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Driving Safely During Credit Repair

Brakes are a normal wear item and replacing them is usually not covered under a new car warranty, certified used car warranty or used car service contract. Borrowers, especially those with credit issues that are on tight budgets, should not only pay attention to the seven signs their brakes need to be inspected, they should also set aside funds each month to cover maintenance expenses.

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