A number of years ago the Illinois CPA Society had some suggestions that still hold true for credit challenged car shoppers
Advice from the experts
Here at Auto Credit Express we were always under the impression that accounts were purely the analytical type. Not necessarily cold, mind you, but hardly a group of hopeless romantics.
But four years ago we were proven wrong. In a news release partially titled "Don't Let Money be Your Heart-Breaker" the Illinois CPA Society listed four suggestions on how to approach the financial aspects of relationships that could be especially beneficial to consumers with less than perfect credit.
We know, because for the last two decades we've been helping car buyers with bad credit locate those new car dealers that can give them their best chances for car loan approvals.
So without further ado, here's the article:
Don't Let Money be Your Heart-Breaker: Illinois CPA Society Suggests a Valentine's Day Money Talk
It won't add to the romance but having an honest conversation about money upfront in a relationship just might make it last. Considering the stress of today's economy on relationships, the Illinois CPA Society suggests having a Valentine's Day money talk and offers these ideas for getting started:
• Be Honest and Upfront -- Let each other know what you're bringing to the relationship; list everything financial, both positive and negative - outstanding student loans, car loans, number of credit cards and the amount owed on each of them, 401K plans or investments, insurance, outstanding medical bills and family commitments, like parent or child support.
• Ask Questions -- You shouldn't be afraid to talk about money. Don't know what your significant other's credit rating is or the longest they've held a job? Ask them; it's better to know now, not later.
• Compare Attitudes -- Compare your attitudes about money. Find out who cuts coupons and who's more likely to make impulse purchases, and what each of you considers necessities - premium cable or high priced haircuts? Describe your spending habits and financial condition in a few words. Discuss current details like whether you have a budget and stick to it, as well as your long term financial and career goals.
• Stay Calm -- Don't criticize or blame each other if you find you're off to a rough start. Figure out a way to solve any problems and remember you have a fresh start together. Develop a finance plan for your future and follow it. If you need help consider working with a CPA.
The Bottom Line
So there you have it. While the advice is hardly romantic, for people with questionable credit it may help maintain the spark in their relationships even as they reestablish good credit. So thanks for the advice and a Happy Valentine's Day to all you CPAs out there!
One more bit of advice: if you do have poor credit keep in mind that Auto Credit Express matches applicants that have experienced car credit issues with dealers that can offer them their best opportunities for approved car loans.
So if you're ready to establish your auto credit, you can begin now by filling out our online car loans application.