In a recent report from Experian Automotive shows a trend for longer car loan terms – which is particularly disturbing for borrowers with poor credit.
A derogatory mark, or “black mark,” is a long-lasting negative record on your credit report. Some remain on your file for 10 years. Even one can hinder your ability to obtain credit or get approved for a loan.
Credit is such a wide-ranging topic that consumers often lose sight of what is true and what is not. Because of how complicated it can get, we’ve been conditioned to believe certain lies regarding credit. Look out for these common credit lies that may be holding you back.
If you have bad credit, it is possible to still be able to buy a reliable vehicle. In fact, if you are buying used, you should make vehicle reliability and durability one of your top priorities. Here are three tips to help you ensure that the vehicle you are getting is reliable.
Credit is such a wide-ranging topic that many consumers get confused about what is true and what is not. We have grown accustomed to believing certain generalities and ideologies regarding credit, when they are often not true. Watch out for these credit lies that could be hindering you financially.
The latest report from TransUnion is certainly good news for borrowers with tarnished credit. But these consumers can also help their chances by having a down payment, choosing an economical vehicle and going with the shortest loan term they can afford in order to give themselves the best chances of success.