Before Applying For an Auto Loan, Know Your Car Credit Score - See Where You Stand

Walking into a car dealership can be an overwhelming experience. You don't want to get taken for a ride, so you've done your research. You know the model specs, the MSRP and how many miles per gallon it gets on the highway. You've picked out the color, decided which upgraded features you want and which ones you can live without. You are focused; determined to show the salesperson that you know your stuff. So, they better not try and pull a fast one on you.

But you forgot one major detail. Perhaps the most important detail...you don't know your credit score.

When it comes to financing your vehicle purchase you can either get a great deal with a low, or no interest loan OR you can end up paying hundreds, even thousands of dollars more in interest over the life of your car loan. The deciding factor is your credit score.

Knowing your score before you head to the dealership can alert you to what type of financing you can expect to be offered, and help you prepare accordingly. It can also give you some added leverage when it comes time to negotiating with the dealer.

In today's economy, banks are stricter than ever when it comes to lending their money. So, the information on your credit report is vital when they evaluate your financing terms and whether or not they want to offer you a loan. Be prepared and know where you stand, and you'll be one important step closer to driving off the lot in your new car.

See your credit score for free, and find out what kind of loan you qualify to receive. See where you stand on the credit score scale and how you compare to the national average.

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