The current grading system for businesses used by the Better Business Bureau makes it much easier for consumers with poor credit to compare the various online auto loan websites.
Even as consumers with problem credit rebuild their credit with an auto loan there’s an increasing chance that their personal information could be hijacked.
Car shoppers who have been turned down by traditional lenders have been known to be taken in by online scams, some of which spoof reputable websites.
But it’s especially important for car buyers with poor credit – many of whom don’t have the money to lose to a new twist on the used car scam.
passing along some tips we recently came across in an article from FICO that discussed this very issue. Here are some excerpts
Something else we’ve also wondered about: if a good credit score means more opportunities for credit thieves while a poor one doesn’t, how do fraudsters know the difference? As it turns out, they probably don’t.
Even when making the right decisions car buyers with poor credit need to be cautious when it comes to sharing their personal information online at this critical time.
But a press release from the Texas Society of CPAs reminds us that these same buyers need to watch their offline habits, as well.