Dec. 28, 2012
-- Rebuild America Auto Program issued an alert to automobile dealerships in participating in the program on December 28, 2012. The alert was designed for potential car buyers on the cusp of improving their credit, specifically borrowers who have faced credit challenges in the post-2008 economy and are now looking for methods by which to improve their credit score.
The Rebuild America Auto Program alert covered simple topics that car buyers in search of a Tampa bad credit auto loan must understand before they visit most automobile dealerships.
If a potential buyer has been hiding from their credit score due to unemployment, foreclosure or any other potential credit altering life event it is not unusual to develop a real fear of looking at your credit report. It is vital that the buyer find some way to move past their phobia, so the credit score can be viewed along with the compiled report spanning back seven or more years. Each bureau may have a different number for the credit score, different reported items and it is possible that the credit report may even contain incorrectly reported charge-offs and collection accounts. If discrepancies do exist, the borrower will want to file disputes with the appropriate credit bureau.
When reviewing the credit report, it is also possible to discover that the score is hovering in a bit of a no man’s land of almost being good enough for traditional financing. Any person falling into the 600 – 650 range for their credit really needs to do more to work on their formerly bad credit, and they can accomplish this by adding an auto loan to their monthly obligations.
If a borrower does not fall within the “almost there” category, it may be necessary to consider asking a friend or a family member with excellent credit to act as a cosigner on any auto loan being pursued. A cosigner willing to risk personal credit on the part of a borrower is a testimonial to any dealership, and can help make your Tampa Florida bad credit auto loan move along a little faster.
The Washington DC based Rebuild America Auto Program specializes in Tampa bad credit auto loans for people who have gone through bankruptcy, foreclosure, long term lack of credit due to extended military service and even assistance for a first time buyer. Rebuild America Auto Program works with banks nationwide, in an effort to help people typically declined by most banks find credible financing for the car they need. Additional information about the Rebuild America Auto Program is available by visiting http://rebuildamericaautoprogram.com/index.htm
, or calling 1-888-865-1602.