About the Credit Bureaus

Did you know that your credit score is actually updated and maintained by three different credit bureaus? Those three bureaus are going to control what other people see of your credit and whether they decide to grant you a loan or other type of credit at all. By understanding those three bureaus and how they report information you’re going to be much better prepared when someone actually pulls the information for your next credit application and that’s going to be extremely important for you in the long run.

 

The three credit bureaus are named Experian, Transunion and Equifax. Equifax is run from Atlanta, Georgia and helps with the financials of over 800 million consumers as well as over 88 million businesses throughout the world. In fact, it’s rated #1 in most countries around the world including the US, Argentina, Australia, Canada, Costa Rica, El Salvador, Mexico, Portugal, Russia, Spain and Uruguay. In other stats, such as Brazil, India and the UK it has been rated second most popular. No matter which way you look at that it’s definitely a reason that you can feel safe believing what this bureau has to tell you about your credit.

 

Transunion is a little more recent of a company, especially in the general public eye but it has been able to make a name for itself and has started to make some waves in the industry. It became a publically traded company just last year though it has started helping millions of people throughout the world several decades before that. In fact, Transunion is located in 33 different countries and provides services not only through providing credit information in the form of credit reports but also through its website, TrueCredit.com.

 

Finally, Experian, which has its corporate headquarters out of Dublin, Ireland. The company is prevalent in 38 different countries around the world. Originally started all the way back in 1826, the company has grown exponentially from merchants sharing information about their customers to becoming part of the London Stock Exchange and expanding further in the early 2000’s. The company currently provides services throughout the world and has even purchased the fourth largest credit reporting agency (after the three mentioned here) to continue its expansion and earn it the number one slot in the Brazilian market as well as many others.
Overall, these three credit bureaus are going to look at the same information about you and they are going to see what they believe is most important about each. Though they report on the same information, the algorithm they use to decide your credit score is going to be slightly different, so you want to make sure that you’re paying attention to each one and that you know what your score will be each time it’s pulled. Different companies will look at different reports so you want to be prepared on any of them. If you’re looking for a loan you want to make sure you’re getting the right one so check here to find out more about your next car loan.

Before You Walk Into The Dealership

If you’re in the market for a new car you want to make sure that you’re getting the best deal possible. You don’t want to walk into a dealership or car lot and simply pay the price that’s right there on the sticker. You want to get a good deal, something that you can be happy with and you definitely want to make sure you’re not spending more money than you can afford in the process. So how do you make sure you’re getting that great deal? Well there are some things you need to consider before you walk into the dealership.

know what you wantKnow What You Want

Before you walk into the dealership make sure you know exactly what you want. You need to know the type of vehicle you want (though not necessarily the specific one). You need to know what type of features you really want and which ones you don’t as well. Consider different trim levels and think about which trim level you would like to buy in and where you’re getting more than you really need. That way, when you get to the dealership, you’re going to have a better idea when the salesperson starts to lead you to a vehicle or talk you into something bigger and badder. You’ll know whether you really want to check it out or whether it’s too much money for not enough benefit.

M-iS-19966148L-ADMConsider the Long Term Prognosis

You want to know what that vehicle is going to take to maintain and how long it’s going to last. Now, no one can give you a guarantee on these things, but you’ll be able to find plenty of information from owners about how much they had to spend to repair their vehicle and you’ll be able to see what the most common problems are. That gives you an idea of how much you’re going to be spending when it comes to owning the car long term. You’ll also be able to get an idea of what the resale value is on the vehicle before you purchase it so you’ll know what your return on investment is.

get financing aheadGet Financing Ahead

Another important aspect is to consider your financing before you walk into the dealership. If you’re able to get the financing from Car Loans Canada other than that dealer you’ll probably be able to save a little bit more money and that can be important. If you’re not sure about the loan you’re going to need you can find out even more about it right here.

Getting a new car should be exciting and a whole lot of fun, so make sure that you’re doing everything you can to make it that fun experience and that you’re not getting taken to the cleaners by someone who’s been in this business a lot longer than you. Your salesperson is going to try to make some money on this deal and the more they get you to pay the better the money they make, so be careful thinking that they’re on your side.