Over the past few years, there has been a significant shift in the automotive industry. The age-old reliance on traditional means of transacting business, including the conventional practice of going to a car dealership to make purchases, is gradually receding into the background. The reason for this shift isn’t far-fetched – the industry is beginning
The term “credit” refers to your ability to borrow money from banks, credit unions, and other lenders. Having good credit makes it easier for you to get approved for loans to buy a house, finance a car, or even pursue a college education. You typically need to meet a minimum credit score requirement to qualify
Life happens. Unemployment, divorce, and unexpected expenses can throw a wrench in your financial plans. If you are no longer able to afford your auto loan payments, you may want to consider refinancing. Refinancing is the process of paying off your existing auto loan with a new auto loan offering better terms. In other words,
A credit bureau, also known as a credit reporting agency, is an organization that gathers consumers’ credit information and uses it to create credit reports. Lenders, employers, landlords, and other parties can pay credit bureaus to access this information, which they use to make important decisions. For example, a lender may need to access an
There are many factors that can lead to bad credit. Your credit may suffer after a major event in your life such as a divorce or the loss of a job. It could also suffer if you accidentally missed a few payments or fell behind on your bills. In other words, bad credit can happen
When you are in the market to purchase a new car but don’t have the cash readily available to pay for the car, an auto loan can help you make that purchase. An auto loan can be issued from either direct lenders such as banks, credit unions, or other financial institutions like online lenders, or
Starting a new business is exciting, but it’s also stressful. Some businesses can grow out of a hobby (reselling thrifted finds), and, if there is a desire for expansion, there may be a need for new business owners to learn how to build business credit. Both personal credit and business credit help establish creditworthiness and
If you are researching about how to boost your credit score, then you likely have had issues due to your credit rating, or are considering making an application to borrow a large amount of money. When your credit score is good, it is something you don’t often think about. A good credit score makes opening
For most families, each month is a paycheck-to-paycheck struggle. When an emergency hits, the financial burden can be crippling. Maybe the car died, and the repairs cost more than the vehicle is worth or a lost job leaves a gaping hole in the family’s cash flow. But even what we consider minor financial setbacks like
Sometimes it might feel like the world is working against you when you struggle with your credit rating. However, no matter if you have good or bad credit, it is possible to find a personal loan that will help you work past a sudden unexpected expenses. When sudden unexpected expenses arise it is possible to
Experian, TransUnion, and Equifax are the three credit bureaus that store credit histories on consumers. Lenders use the scores from these bureaus to determine credit worthiness when an individual applies for a line of credit. While all of these companies calculate credit scores differently, it is important to note that there are five common factors