The report released by Experian back in 2009 analyzed the rate of identity fraud across various credit score ranges. It also establishes a clear correlation between excellent credit scores (for both individuals and businesses) and “the propensity for identity fraud victimization.”
Car buyers hoping to repair their poor credit with an auto loan should be aware of some of the latest tactics used by skilled identity thieves.
Here at Auto Credit Express we find ourselves reminding applicants with problem credit that the internet is not always the safest place to be – especially if they qualify for a car loan.
One way consumers including those with bad can tell if an automotive-related program is legitimate is if the company or business involved asks for a fee up front to perform the service – including applying for auto loans.
Car buyers including those with bad credit need to know how fraudulent sellers can affect an auto loan by using websites such as Craigslist.com.
Consumers with poor credit who have been rejected by a traditional lender for a car loan sometimes resort to desperate measures which can lead to being taken in by online scammers.
Like many neighborhoods there are thieves hoping to take advantage of the unwary. But instead of ripping off flat screen televisions these people are more than content to steal an individual’s private information so they can assume that identity. Down the road this can make it difficult even for those with bad credit to qualify for an auto loan