Credit Score and Buying a Car Paterson NJ

Check your credit report and know your credit score before you buy a car. If you're planning on financing your car with an auto loan, it's useful to know your credit score so you get the best interest rate.

Local Companies

Polimer Technologies inc
862-235-7976
77 Floyd ave
Bloomfield, NJ
Auto Finance
908-462-0099
1337 Stonepot Road
NJ, FL
New Jersey State Auto Auction
201-200-1100
Jersey City, NJ
Fleet Lease Network
201-200-1100
406 Sip Avenue
Jersey City, NJ
Imperial Acceptance Corp
(908) 696-1800
75 Claremont Rd
Bernardsville, NJ
American General Finance
(201) 291-0375
66 N State Rt 17
Paramus, NJ
Lakeland Bank
(973) 882-0800
166 Changebridge Rd
Montville, NJ
American Federal Capital Group Inc
(856) 910-8707
5434 King Ave
Pennsauken, NJ
Millennium Home Loans
(609) 387-0767
1816 Mount Holly Rd
Burlington, NJ
Sun National Bank
(732) 845-3070
3535 US Highway 9
Freehold, NJ

No one likes buying a car; the entire process is awkward and cumbersome. Most items we buy are plainly marked with the price, but with cars, the price is often a mystery. Then you have to haggle with a salesman and hope that you have worked out the best price possible. Having done that, you have to arrange financing. You can often get an acceptable interest rate when financing through the dealer, but some dealers are padding their bottom line by offering loans at higher rates than they otherwise might.

The scam works like this – You negotiate your best price with the dealer and you agree to finance through them. You fill out the credit application and hand it over to the salesman, who has promised you some reasonable terms. He takes off to process the application and to check your credit report while you have a cup of coffee. He returns a few minutes later, shaking his head. He informs you that your credit score is only 600 and that you will not qualify for the interest rate he offered you. He says that you will have to pay a higher rate. And not knowing any better, you agree.

Had you done your homework by checking your credit score ahead of time, you would have known your actual credit score and you could have pointed out that the salesman's assessment of your credit score was incorrect. At that point, you could insist upon receiving the more favorable interest rate or threaten to finance elsewhere. This is a common scam that works because most people really do not know their exact credit score.

Learning your credit score is easy. All you have to do is visit the Websites of one of the three major credit bureaus – Experian, Trans Union or Equifax. For a modest fee, you can receive a copy of your credit report with your credit score. Armed with this useful piece of information, you can shop for a car with a bit more peace of mind, knowing ahead of time whether or not you can qualify for the best financing.

About the Author:

©Copyright 2006 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing. Retro Marketing, established in 1978, is a firm devoted to informational Websites, including http://www.LemonLawHelp.net, a site devoted to automobile lemon laws.


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Featured Local Company

Polimer Technologies inc

862-235-7976
77 Floyd ave
Bloomfield, NJ

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