You’re looking to buy a new car or truck and doing all the research necessary. Unfortunately there is one topic a majority of people forget about is their credit score. I make a habit of beginning my relationship with a customer by figuring out if they can actually purchase a vehicle. Most people have to acquire a loan to purchase their vehicles and that’s just how it is. My first question to a prospective buyer is; rate your credit between 1 and 10. A majority of people will answer with I’m a 6 and of course this is a midrange number and this is why they choose 6.

 Here’s the deal in a nutshell. You have to know your “true” FICO score. FICO is FICO and there is no way around it. In “YOUR MARKET PLACE”, I offer a direct link to obtain a true FICO score. When you take advantage of this service, it makes you a completely informed buyer. This along with all your other research gives you tools to negotiate with the dealerships and the lenders.

 Whether buying a car or buying a house; your true FICO credit score is the only score that counts with every lender!!

 I will be adding articles in the future showing how knowing your true FICO score will help to get the best car deal, financial rate and even working to get cheaper extended warranty coverage for your vehicle.

STAY TUNED!

 OK, let’s say you have just graduated with your degree. You’re close warm personal friends with Ms. Sallie Mae! Your prayers have been answered with a decent paying job with a stable company. But, you need a dependable car for your new commute every day. Don’t fret!!!!

  I believe one of the best programs lenders have come up with is the first time buyer. Actually, most of these first time buyer programs are provided by the manufactures own lending agencies. Many lending institutions offer these same programs at very competitive rates.

 In a nutshell, you have no credit history, but you do have a job and have just devoted 4 to 5 years of your life obtaining your degree. They have money to lend and are willing to take a chance on YOU and your determination.

 Usually the A.P.R. is very affordable and a very good deal. The only documentation you will have to provide the lender is proof of university degree and proof of employment.

 If you’re planning on buying a car, you need to know your credit score. Knowing your score puts you in the driver seat when obtaining a car loan. Free credit report and free credit score.com are good resources for your credit report and score, but there is only one resource that a lender uses to checks your credit score and report. Lenders rely on the Fair Isaac Corporation score or FICO. PERIOD!

 FICO researches each person’s credit history thoroughly even to rate the way a person makes their monthly payments on any open credit. To give some idea the difference between a FICO score and a free credit report score; the free credit score is usually 100 point higher than a true FICO score. I am working to set up a direct link with FICO so as to provide my reader’s the best and least expensive way to obtain their FICO scores.

 Let’s say you know your credit score. If your credit score is 580 or higher, you will be eligible for a car loan with fairly low interest rates. Lenders know that their money is fairly secure with people in this credit score range. If your credit score is below 580, well you will encounter some difficulty obtaining a car loan and the interest rates will reflect this risk for the lenders. I am working on obtaining and listing direct links with lenders who can and will help in this area. To offer the best out there for you takes time and research. Keep checking back to this page for those LINKS.

 There will be more articles pertaining to people who find themselves in the poor credit score situation. It is an ever growing problem and there is help out there. My promise is to provide that help right here at AskTheCarBuyGuy.com.

Can you? In certain areas of the U.S. a person can live without owning an automobile, but most of us need an automobile to live. A large percentage of people begin their car buying process never asking this very important question.

 Have you ever been denied credit? Are you going through a bankruptcy or ever had a car repossessed? Do you make your monthly payments late or had any credit card charge offs? Do you have an open car loan right now? Are you just starting out and have no established credit?

 If you answered yes to any of these questions, obtaining a car loan will be difficult. Notice I didn’t say impossible? This is where a car negotiator/consultant service can be very beneficial. You need someone on your side and looking out for you, not someone waiting to take advantage of your situation.

 If you know that you have a good credit score and can buy, please take the time to obtain preapproval for a car loan. This will be a great tool to have when closing your deal.