Consumers with bad credit that have applied for a regular car loan sometimes find the FICO reason codes in the “adverse action notice requirements” they receive confusing. But this is an improvement over the old system.
Despite an increase in delinquencies, auto loans to consumers with problem credit continued to rise during the first three months of 2012.
Car buyers that have experienced credit difficulties sometimes want to know how to buy a car with bad credit and no money down – in other words they are looking for a car loan with no money out of pocket.
Car buyers with problem credit might want to know about a special version of their credit report that makes it easier for both car dealers and lenders to view the history of their car credit.
Consumers with bad credit often either don’t know the different types of credit scores, what these numbers mean or even what their credit scores or even what they are before applying for an auto loan.
Car buyers with problem credit that are self employed should be aware of the problems they may encounter when applying for a car loan.
Car shoppers with problem credit will find some good news in the most recent data from Equifax if they’re contemplating applying for an auto loan in the near future.