Credit Report 

FAQ'S

What should I watch for in my credit report?

In addition to confirming your basic information, such as your name, address, and social security number, also watch for errors and signs of fraud:

• New accounts that you do not recall opening
• Derogatory information that is not up to date, such as loan payment history (note that bankruptcies stay on your credit file for several years)
• Derogatory information that is incorrect, including missed payments, collection actions, eviction, or repossessions
• Excessive inquiries into your file.

Why is it important to check my credit report?

It's wise to check your credit report frequently for signs of fraud. If someone obtains your social security number, only a few additional pieces of information are necessary to perpetrate fraud in your name. Common types of identity theft include fraudulent bank accounts, credit cards, utilities, and loans. According to the FTC, victims of identity theft spend an average of 175 hours and $800 to clear their names. Early detection is the key to avoid suffering long-term financial consequences.

How long does it take for a closed account to be removed from my credit file?

The file will be updated in 30 to 60 days, but public records such as court actions and collections remain for seven years. Note that it may take anywhere from a few weeks to a few months to correct an error in your report.

Why is my credit score so important?

Your credit score is used by lenders to represent your overall level credit risk. It is essentially a numerical summary of the information in your credit report. The higher your score, the better your credit, and the more likely lenders will be to give you a favorable interest rate on a loan. Each of the three major credit bureaus has its own method for determining a credit score, but they are essentially equivalent.

How high or low can my credit score be?

Credit scores range from 350 to 850 - the higher your score, the more favorable interest rates you will receive on a loan.

Will checking my credit report adversely affect my credit?

Requesting your own credit report will not affect your credit rating. On the other hand, inquiries such as mortgage, loan and credit card applications will affect your score if several of these inquiries occur over a relatively short time frame. Some studies have indicated that this suggests you may be a higher credit risk.

Get your Credit Report Now

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The Ins and Outs of Auto Financing

for Members of the Military

In the past and even today, a number of lenders and car dealers take
advantage of members of the military. The biggest culprits have been
the local used car lots that advertise “buy here, pay here” loans.
Young servicemen who do not bring home a lot of money have gotten
locked into loans with 30, 40, and even 50 percent interest rates for
poorly running vehicles. The federal government has cracked down on
companies trying to exploit military families, and plenty of
legitimate lenders including Auto Credit Financial can help people in
all branches of the Armed Services.

Military Finance Specialists

Some dishonest lenders have tried to use the fact that military
members move around a lot as a reason to issue unfair car loans.
However, reputable lenders recognize that while military members are
often on the move that they are employed by the United States
government. Thus, if a service member defaults on a loan the company
can get in touch with the Armed Services and petition to garnish a
portion of his wages to satisfy the loan. Most military members do not
want trouble with their commanding officers, so they take their
repayment responsibilities seriously.

The good news is that more and more lenders are recognizing the value
service members provide to their country and that they have one of the
most stable jobs in the world. If you are a member of the military and
have bad credit, you still can probably get a car loan at a lower
interest rate than a civilian who has a poor credit rating.

When applying for a car loan, have the names and addresses of several
references as well as your military ID and any proof of active
service. This will help reassure any skeptical financing
representatives and help you get all the discounts and considerations
to which you are entitled.

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How to get Financed

if you are Self Employed

Before the economic downturn of 2008, it was fairly easy to get into a
car loan even if you were self-employed. Unfortunately, some
unscrupulous people took advantage of the system and made it much more
difficult for honest self-employed professionals to get car loans.
However, if you can prove economic stability companies such as Auto
Credit Financial will take a chance with you.

Self-employed people usually do not get a steady paycheck from one
employer. That fact makes it much riskier for a lender to issue the
car note. You must prove through tax returns, banking account
statements, and a solid credit rating that you are making money even
though you do not work with a traditional employer.
If you have a history of credit problems and are self-employed, when
it comes to financing a new or used car you have a tough road ahead.

Is the situation entirely hopeless? It depends upon the seriousness of
your credit problems and how long you have been self-employed.

If you can prove two or more years of stable income and offer a vehicle trade
in or cash down payment, you are much better off than someone who
recently became self-employed with no track record.

Let our staff of professionals work out the details!

Apply Online 

The bottom line is if you can prove your self-employed status does not
make it difficult for you to pay bills, you can probably get a loan
for a good used or new car. While you can get a loan without a down
payment, if you can put at least 10 percent of the sticker price
toward the vehicle purchase you will get an excellent interest rate.

Auto Credit Financial Services.

a Mark Hergert Company

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First-Time Car Buyer Programs

for College Students

Going to college is an exciting yet frightening time for most
teenagers. One of the primary benefits of graduating high school and
attending college is independence. Without a good car, independence is
difficult to achieve. Relying on buses, subways, rides from friends or
worse family members is a good way to feel that your growth is being tunted. Fortunately,

most vehicle dealers as well as lenders like Auto Credit Financial offer first-time car buyer programs for college students.

Apply Online Today!

Buying a car will not only give you independence, but also help build
your credit rating. A good credit report is essential to your future
in countless ways. These days, many potential employers will check
your credit to judge whether you are an honest person. As unfair as it
sounds, such people will not believe you are a trustworthy person if
you pay your bills late or do not pay them at all. So, be sure to
always make your monthly car payments on time to avoid credit
problems. Also, if you do not pay a car loan on time the bank can
repossess your vehicle. Thus, you will lose all the money you’ve
invested into your vehicle as well as your transportation.

Search Our Huge Network of New & Used Inventory Nationwide.

If you have a good part-time or full-time job and been with the same
employer for at least six months, you can probably get a car loan
without a co-signer. This is great because you are truly asserting
your independence. But if you do not have a steady job, you will need
to ask a parent or another family member to apply for the loan with
you. If you fail to make the payments, the lender will pursue the debt
with the person who co-signed on your behalf.

Most car lenders want to see good credit before issuing a loan that
requires little to no down payment. The beauty of first-time car buyer
programs for college students is that you can get a low interest rate,
little to no down payment, and easy approval as long as you can prove
your ability to repay the loan. Apply Today Auto Credit Financial

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The "Buy Here Pay Here"

Disadvantage

by Mark Hergert CEO

Some people mistakenly believe that they must visit a local “buy here, pay here” lot to buy a car with bad credit. But relying on such
companies is a recipe for vehicular and financial disaster.

Most of these companies charge interest rates exceeding 30 percent, which makes it very difficult for you to consistently make on-time monthly payments.

These companies hope that they will have to repossess the car so they can put it back on the lot, collect a down payment from another customer, and repeat the process to earn more money. True lenders such as Auto Credit Financial allow you to buy a new or used car in good condition regardless of your past credit problems.Yes, you will need to prove stable employment and residency.

In most cases, you will get better loan terms if you can trade in a used car or make a cash down payment. But you will not have to pay anywhere near 30 percent for an interest rate, even if you have a credit scorein the 400s. When you are buying a car with bad credit, a little flexibility is important. You might want a brand new BMW convertible but unless you make a healthy income, you will have a very hard time financing it with bad credit. Try a different model of new vehicle or a used BMW convertible if that is what you truly desire.

A good lender will work with reasonable requests, but they will not loan you more money than you can truly afford because they do not want to repossess your vehicle. Apply Today at:

Auto Credit Financial

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How to Get Bad Credit Auto Loans after Bankruptcy

Auto Credit Financial ®

You have probably heard a lot of rumors about getting credit after filing bankruptcy especially when it comes to car loans. 

You can still get quality bad credit auto loans with reasonable terms even after you declared Chapter 7 or Chapter 13 bankruptcy.

Mark Hergert CEO, Managing Director

A major key to getting a loan is to have steady employment. Ideally you have been at the same job and residence for at least a year. Also you must make sure a judge has finalized or “discharged” your bankruptcy case before you can legally apply for any type of auto loan. If you are still paying debts under a Chapter 13 plan you cannot legally apply for any kind of credit without a judge’s permission a judge will probably approve your request if you truly need to get into another car.

If you had good credit before bankruptcy but just ran into some hard financial times you will be able to get a car loan with a fairly low down payment and interest rate in some cases you can get a loan without a down payment or trade in.  However the best types of car loans these days require a down payment even if you have good credit generally you should plan to trade in another vehicle or pay about $1,000 toward a getting into an auto loan.

What if I have filed for bankruptcy in the past? If your current bankruptcy has been discharged and you are currently employed you will most likely qualify for an auto loan. Please use our free auto loan application, submit your auto loan application and see whether you qualify for an auto loan. This is the easiest way for you to determine whether you qualify for a car loan and whether you can get your car credit application approved especially if you still have your recent bankruptcy showing in your credit reports.

 Apply Online Now

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Understanding the Basics of a Credit Score

Apply Online Now

My credit score - is it really important? 

Your credit score has more of an effect on your chances of approval than you think. A bad credit score can cause you to pay much higher loan interest rates and can adversely affect your ability to get a new or used auto loan. Many people are unaware that auto loan companies check your credit before even negotiating the price or interest rates. 

Beware when applying with other online companies

 
The biggest auto financing mistake buyers make is trying to buy a new or used car without first checking online with Auto Credit Financial for auto loan rates.  Knowing your credit history and required information can help with getting an auto loan.  Don't wait until you reach the dealer. Applying for new or used car financing other than Auto Credit Financial could be a costly mistake. 

Why should I apply ?

Car dealerships sometimes offer in house financing, which means they will carry your loan instead of going through an outside bank or finance company. The interest rate is normally considerably higher than that of the bank or finance company because the dealership will have lower qualifying standards than these institutions. Another reason for the higher rates is that the dealership is now taking on the risk of nonpayment and not passing it along to a third party finance companies also offer some loans to people with bad credit or no credit, but do so with higher interest rates because they are now taking on this risk. 

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Auto Credit Financial

Banks & Lending Resources

Chase Bank Auto Loans | PNC Bank Auto & Truck Loans | Ally Automotive Credit

Fifth Third Bank Auto Loans | Huntington Bank Automobile Finance | Charter Bank Auto Loans | Loan Consolidation

Ally Automotive Finance | Ford Motor Credit | Chrysler Financial | Hyundai Automotive Credit | JP Morgan Chase

Bank of Hawaii Auto Loans | American Savings Bank Auto Loans | First Hawaiian Bank Auto Truck Loans | USAA Automotive Finance | Consumer Portfolio Services | National Automotive Finance

Chase Custom Finance | Westlake Financial

Hawaii Automobile Finance | Wells Fargo Bank Car Loans

Search New & Used Vehicles Nationwide

Apply Now Online

A Mark Hergert Company

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Your Credit Report Fact or Fantasy? ®

Fantasy Credit Report Your Credit Report (the Boring Part) Your online credit report is a collection of files and records pertaining to your credit history. It is often referenced for hiring, renting, mortgages, loans, background checks and many other situations which may require an involvement of a larger sum of your income or a need for your personal services.

Apply Online Now

for Fast Approval Regardless of your Credit Score

Auto Credit Financial Services

Your online credit report contains the good the bad and yes, the ugly, within its pages. There are 3 major credit report bureaus from which the information comes from: TransUnion, Equifax and Experian. For the most they are similar, but between the three bureaus there may be some different items listed. What If!? What if your online credit report was only full of positive, correct and up to date items? This would be like a fantasy credit report. You could use it like a tool for certain things like getting a low interest loan or the mortgage you actually wanted. You could use it as a weapon against those creditors who automatically assume that your credit sucks and turn the whole finance game around on them. This fantasy credit report would be like a report card with all A's (something most of us have never experienced right?). Imagine not having to worry about what the results are going to be when the phone rings from the bank because you have total peace of mind that your credit report is not only clean but also free of errors and mishaps. The anxiety of waiting for the results of your credit standing concerning a major purchase can cause equal or more mental tension than a doctor walking in the room with his results for a major medical test. Making the Fantasy a Reality Okay, so this whole fantasy credit report thing is exactly just that right? A fantasy. Well... not necessarily. See, you are the only one that can ultimately control what happens to your credit report. Yes, of course there are those 'unknown factors' - BUT, the good news is there is a big first step you can take to help start achieving your own personal fantasy credit report. You can obtain a free copy of your credit report and see what negative items are sitting on your file. More than 70% of all U.S. citizens with credit reports have false or out of date items on their credit file. By spotting these items early and taking the appropriate steps to remove them you can improve your credit rating. What else can you do? Develop a personalized budget. It will take a couple months of re-adjusting but will help you to see where your money is going and begin to mature your spending habits. Also, think about your major purchases before you make them. Too often in our society, consumers buy things without a second thought and "paint themselves into a corner" financially. When you take on more payments than you can afford you have set up your credit report for long term damage. Here is a saying to think about regarding this type of situation: "If your outgo exceeds your income, eventually your upkeep will become your downfall." Remember that the fantasy credit report is waiting to evolve before your very eyes - you just have to make it happen.

Auto Credit Financial ®

A Mark Hergert Company

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Beating Debt with a Stick

By Mark Hergert CEO

Debt is a Product in America
The #1 sickness in America concerning finances right now is debt. Debt is a product in our culture and it is vigorously aimed at you and me everyday, everywhere. As a society, we borrow more money than the last two generations times two and your online credit report reflects these habits! Some companies like Sears make more profit from their credit department than from all the physical products they sell.

But It's the Norm Isn't It?
We are programmed from childhood to make automatic decisions regarding our personal spending habits thus negatively affecting our online credit report. A few 'real world' examples are listed below:

What to do? Well, I hate to give the obvious answer here but how about saving money! Try saving money in a money market account for a couple years and then paying for a slightly used car in cash or with a 50 to 75% down payment. Wow, imagine having that extra money every month that most people dump into their lease or high rate loan. Try saving money for 3-6 months interest and risk free for that thing that you needed and you might find that you can get it cheaper with hundreds OR even that you want to use your hard-earned money for something more practical. Your credit report will thank you as well.

Penny Pinching is Boring!
Most people today think that to be frugal one must live out of a shack and only make purchases when they are on clearance (or if it's life or death). Well they're only half right. Have you heard the expression "It's the little things that count"? This holds very true when dealing with financial decisions. While large purchases definitely have great effect on one's online credit report as well as their overall situation, it is often the everyday spending habits that accumulate and hold them back from attaining wealth of any sort. What many people fail to realize is that the majority of true millionaires in America (those with net Worth exceeding 1 million dollars) got rich from thinking outside the box and not following the crowd. Try thinking a little more about how you handle your money and you might find that you know more than you think you do.

Summing Up the Debt Sickness Fiasco
A decision as simple as using a debit credit card instead of a credit card shows discipline. Report that paying with cash instead of credit shows that you have properly budgeted your money and it just feels better to own something the day you walk away with it. Your credit report will also reflect these positive actions. Since the average consumer has little control over their own spending habits, the credit report picks up the slack and in turn there are more negative items to show for it. Even statistics show that using cash when making purchases will greatly reduce spending thus causing you to think harder as a consumer before swiping that credit card. Get off to a good start by seeing what is on your online credit report. By removing negative items from your online credit report you can improve your credit rating. Apply now for a low rate auto loan today

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