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Whenever, you seek a car loan, always check your credit score. It is popularly known as the FICO score. This will help you correct any bad credit record you may have. It will also aid the auto loan processing. More often than not, incorrect or wrongly calculated credit score marks one out as eligible for only the bad credit loan. Also remember that several rejected loan applications leave a stain on one’s report.

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is, in turn, leads to a chain reaction that is basically negative in nature. In such an instance, securing a loan becomes doubly problematic. So, always keep your accounts clean. Rectify your position if you have a bad credit score WHAT IS BAD CREDIT? In simple terms, the person having a bad credit score means he/she has defaulted in the repayment of an earlier loan. The bad credit level begins from FICO scores of about 650 and below. In case you have a bad credit score, the loan providers would be charging you a higher rate of interest. In the bad credit stage, one may not qualify for l

Written by: khprem Uploaded Date: 12th Dec 2008 Words: 462
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