Stand up for your rights!
If you say you aren’t looking for a best car loan term, I won’t believe you? Of course you are. So stand up for your rights! The Federal Government doesn’t often cover itself in glory. It usually caves into the interests of Big Business. But the Fair Credit Reporting Act actually did something useful for the consumer. There are three national credit data collection agencies - Equifax, Experian, and TransUnion. So what’s in a credit report? Well, it’s basic information on where you live, how well you look after your debts, and whether you’ve been arrested or sued, or filed for bankruptcy. As a package, it’s on sale to banks, employers, landlords, etc. To get a copy of your report, don’t approach the companies directly. It may be more useful to get one report from each of the three companies every four months. That way, you get free updates as the year goes by. If you find anything wrong, the FCRA gives you the right to have it corrected. Any score less than 550 means you’re not going to get the best loan offers. Anything you can do to improve your score will save you dollars on your car loan.