Pat Goss' Tips & Expert Advice

Get Ready To Apply

Applying for auto credit financing can feel like a shot in the dark for someone who does not have very good credit. There are some things you can do to make your loan application more attractive to lenders, but most of these things take some time.

You should get a copy of your credit history a few months before you plan on applying. This will give you the time you need to report any errors on the report and get them removed. You should also make an attempt to not only pay your open account balances down, but to also build up a substantial down payment. The more appealing you can make yourself to lenders, the more likely you will be to get approved for an auto loan. Using a loan broker like CARCHEX.com can also increase your chances of getting approved since the application is sent to several different lenders at once. One particular lender might not be able to approve you, but when your application goes to several lenders your odds improve.