3-in-1 Credit Report Is Car Buyer’s New Best Friend

You have been researching the perfect car to buy and a great time to buy. But if you check your credit report and credit score? A brief review of your credit report before you visit the online dealers can save time and money when you are ready to make a deal.

1. Give credit reports tune-ups.
Check your credit report early in the process to avoid embarrassing or costly episodes at the table loans.
Get the facts first. After your 3-in-1 credit report from TransUnion’s TrueCredit.com before you shop for a vehicle allows you to compare and review financial information from each of the three credit bureaus: TransUnion, Equifax and Experian.
Check the accuracy of your 3-in-1 report. If you find a mistake, report it immediately.
Does your credit card balances high? These reduce or pay off small debts can sometimes improve your credit score and save money for the loan.
Several months bills payments can improve the way lenders view you.
2. Do not overextend yourself.

Before you decide which car is right for you, it’s a good idea to see how much you can really afford.
After all the other bills are paid every month, how much you have left to put the vehicle?
Do you have a trade-in or cash advance? This can help you negotiate better rates with the lender and can be very important if you have credit problems.
Calculate your debt-income ratio by dividing your monthly payments by your gross monthly income. Be sure to add your new car payment is expected. A ratio greater than 30 percent may be a red flag to lenders.
3. Is financing your homework.
Auto loans apply for unnecessary stress if you arrive prepared. Consider the following:
Be prepared to discuss your income, employment, home loans and credit history.
To negotiate the best loan, check your bank’s interest rate and credit unions will offer you before you visit the showroom to make a final agreement.
With these tips and your credit report from Transition’s TrueCredit.com in hand, you should be well equipped to negotiate a better deal on your next car. Now, go get ‘em!