This week Experian announced a new version of their credit report which should prevent car dealers and lending institutions from making mistakes about your automotive credit history by overlooking important information…
All your automotive information in one place
At Auto Credit Express, we want to keep you up to date on the latest news from the credit bureaus. Because of this, you should know that this past Monday, Experian Automotive, a division of Experian, announced the creation of a new credit profile report to be called Experian's Automotive Credit Profile®. The new report is designed expressly for automotive dealers and lenders. While the new report uses the same scoring model as in the past, the automotive related information it contains is presented in a new way.
Why the report should help car customers
Instead of having to manually scan the report for automotive information, the new Automotive Profile Summary® provides a snapshot view of a consumer's automotive finance history along with information for each open automotive loan. The information includes the total number of automotive loans, total number of open automotive loans, current monthly payment for all open automotive loans and a delinquency counter for all past-due loans.
In addition, the new profile sorts and prioritizes all automotive loans in the report and lists them at the beginning of the profile, eliminating the need to read through an entire credit report. It also means that dealers won't miss any information.
When will it be available?
According to Experian, the new Automotive Credit Profile will be available to dealers and lenders April 21, 2008.
About Auto Credit Express
Here at Auto Credit Express, we have helped thousands of customers with bad credit get a car loan. We do this without making outrageous promises and by being upfront about how we can help you. Our web site clearly states the minimum requirements for a car loan so you can see where you fit in. If you have questions that our online resources center can't answer, there is a toll free number you can call that will give you a live operator (during normal business hours) that can help you. Remember, here at Auto Credit Express, we want you “on the road” to better credit!