Thinking About Applying For A Bad Credit Car Loan?

Are you trying to apply for a car loan and discovered that you don’t qualify because you have bad credit? You may qualify for a bad credit car loan and still get into the car of your dreams. Here is what you need to do before applying for a bad credit car loan.

It’s All About The Credit Report

If you haven’t looked at your credit report since the 1990’s then it’s time to order a copy of your 3 in 1 credit report from all three credit bureaus (Equifax, Transunion and Experian) to see what’s lurking in there. The easiest way to get your 3 in 1 credit report is online. Just use your favorite search engine, type in “3 in 1 credit report” and you should have a long list of sites that you can order it from.

Once you get your 3 in 1 report sit down and take a look at your credit history. If you see items in your credit report that are inaccurate you should fill out a dispute form with each credit bureau website to make sure those items are removed or corrected as soon as possible.

If you have a lot of negative items on your credit report you should 1. Make sure that those items are paid and 2. Write a letter to each credit bureau explaining the charge. This step is important because it important for potential creditors to know what happened and that you’re not an irresponsible person.

Are Unpaid Items Still Lurking In Your Past?

If you found several unpaid bills on your credit report that you may have forgotten about it’s important to pay those bills before you start applying for bad credit card loans because if a lender sees those unpaid items they are less likely to give you the loan than they would be if you made the effort to get those bills paid off.