‘Automotive Answers: 9999 9999999999999 9999999999999 999999999 99999999999 99999999999 3-in-1 Credit Report ls Car Buyer’s New Best Friend (NAPSA)—You’ve researched the perfect car to buy and theper- fect time to buy it. But have you checked your credit report and credit score? A quick review of your credit report online before you visit dealerships can save you both time and money when you are ready to makeyourdeal. 1. Give that credit report a tune-up. Check your credit report early in the process to avoid embarrassing or costly episodes at the loan desk. Get the facts first. Having your 3-in-1 credit report from TransUnion’s TrueCredit.com before you shop for a vehicle allows you to compare and review your financial information from each of the three credit bureaus: TransUnion, Equifax and Experian. Check the accuracy of your 3-in-1 report. If you find any mis- takes, report them immediately. e Are your credit card balances high? Reducing these or paying off small debts can some- times boost your credit score and save you moneyon a loan. A few months of promptbill payments can improve the way lenders view you. 2. Don’t overextend yourself. Brand new sports car vs. used and practical? Before you decide Calculate your debt-to-in- come ratio by dividing all your monthly payments by your gross monthly income. Make sure to add in your expected new car payment. A ratio greater than 30 percent may be a red flag to lenders. 3. Do your financing homework. Applying for an auto loan doesn’t have to be stressful if you arrive prepared. Consider the following: Be ready to discuss your income, occupation, home loan and credit history. To negotiate the best loan, check the rates banks and credit unions will offer you before visit- good idea to see how much you can really afford. e After all your other bills are ing a showroom to make your final deal. With these tips and your credit report from TransUnion’s haveleft to put toward a vehicle? should be well-equipped to negoti- which car is right for you, it’s a paid each month, how much do you Do you have a trade-in or down payment? These can help you negotiate a better rate with lenders and can be especially important if you have problem credit. TrueCredit.com in hand, you ate a better deal on your nextcar. Now,go get ’em! To learn more about managing your own credit health, visit www.truecredit.com.
