Lack of credit history

We advise all car buyers not to apply for a car loan unless you have checked your own credit score and credit report first. After all, that is what the car dealers do, so you better know what's wrong before they do. A car salesperson should never know more about your credit than you do. What is this concept of credit history? Why won't they just lend me money for my car? This is the first barrier that crushes your dream to buy that new car. Many young adults have not yet established credit of their own yet, because Mom and Dad have been footing the bill until now, but maybe Mom and Dad cannot afford to buy that first car for you, so you try it on your own. Reality hits you real hard here, because this is where most people fail to understand the rules of the game in order to get approved for a car loan. People with bad credit pay higher auto loan interest rates. It can hurt your job prospects, insurance companies check your credit too. Get your credit report instantly online, it's a must for The Folder. DO NOT apply for new car loans until you get your credit report WITH credit score. Get your credit score online at Experian, Equifax or TrueCredit. Remember, you can run your own credit file all you want, but if dealers run it for new car loans, then your score drops a few points. If your Credit Score is <>repair your own credit at our other site DebtWizards.com. Your last auto financing resort is a bad credit auto loan. Some car buyers who keep getting rejected make matters worse by continuously applying for a car loan anywhere they can, hoping it will stick, but all it does is drive their credit score lower. Keep in mind that many adults are pretty brain dead in the car financing area too, so you often have one generation of ignorance teaching the next. There is also a lot of sleaze in the bad credit car loan market, because it truly is hard to find lenders who will finance you, so your sales lead keeps getting sold around until they find a lender willing to approve your car loan.