Prepare yourself ahead of time.  It’s better to check your credit before you ever go into the dealership because if your score is not as good as you think and you are denied for a loan, this will have a negative effect on your score and push you another step backward.  You can obtain a free copy of your credit report from one of the three bureaus (Trans Union, Experian, and Equifax).  You won’t see your actual score, but you will see your history, and this should give you a good idea of where you stand.

If you find negative history on your account, start taking steps to improve it.  Pay off any outstanding debts as soon as you can and pay your bills on time to start building a positive history.  Close any old or unnecessary accounts that may be hurting your score, such as those store credit cards.

Check your report for errors and get them removed.  For example, you might find an account listed that you know has been paid off and should have been closed.  Contact either the creditor or the credit bureau to clear it from your report.  If you have negative information that cannot be removed, such as a foreclosure or bankruptcy, make sure you come prepared with a good explanation for it and any documentation that can back you up.  The same goes for any errors that haven’t been removed by time you’ve begun to apply for your loan.

A large down payment can also help you get approved.  It will lower the amount of your loan and thus increase your chances of approval.

If your score is as high as it is going to get for now, you can still get a loan.  Make sure you’ve taken as many steps as possible to improve your credit, save for a down payment, and bring a cosigner if it looks like you might need one.  Be realistic about what kind of car you’re looking for.  Even if you previously owned a high-end car but your credit has slid since then, you may have to consider a mid-level car for now.

Your lesson: come prepared and you can still be approved, even if your credit needs some help.

In addition to using your credit score e to determine how likely you are to pay your rent on time, real estate owners renting out their properties can use your credit report as a “responsibility gauge.” It’s the same  reasons why hiring employers pull your credit when deciding whether or not to extend a job offer to you. Your credit rating is one of the best indicators as to how responsible you are.

If you aren’t responsible enough to manage your own money and pay your bills, how can a landlord trust you to properly care for their property worth hundreds of thousands of dollars?

If you are in a position where you need to rent with bad credit, there is a solution…

How to Rent with Bad Credit:

There are a couple things you can do to convince a landlord to allow you to rent their apartment or house even with damaged credit. First, seek housing for rent from individuals rather than companies. They will be easier to deal with and can make exceptions. If it is currently a “renter’s market,” you fair a better chance of being able to make a deal, but when the real estate market is not doing so good, landlords generally have more applications to choose from and can afford turning you away.

The first thing you can do is try to explain why your credit is damaged. People like to rent their places to people they like. If there is a legitimate reason that the landlord can sympathize with you.

You can also try paying a larger security deposit or a few months rent up-front. Money talks, and investors who own rental properties can always benefit from having more cash on hand. If that doesn’t work, see if they will be willing to rent with bad credit to those who have a co-signer. Try to find a family member or friend who will back you up and help you secure that rental agreement.

Of course the best possible solution is to raise your credit score before you give the landlord the right to pull your credit. This is something that is much easier than most people realize and can be done rather quickly. Just an increase in a few points can move the needle from bad a fair credit rating to good credit, which makes a big difference in the eyes of the person renting out the apartment our house.

Access your credit information online for free to see where you currently stand (click here).

• You Know Your Getting Ripped Off and Payments are Too High
• Meeting Your Monthly Payments is Not Possible
• Your Car Costs More Than it is Worth

There are many personal reasons you may be considering bad credit auto refinancing, and in most cases it doesn’t hurt to see if you qualify for a better rate. With the way your credit score is calculated now, it no longer will damage your credit to shop for a better rate. While you don’t want to make a habit of continually applying for new loans, it makes perfect financial sense to try to get a better rate.

Is it Possible to Get Bad Credit Auto Refinancing?

There are lenders that may be able to help you get the loan you need and refinance your car. While bad credit lenders will offer higher rates in order to balance out their risk, there is always opportunity to get a better rate than you current have. But before you can get bad credit auto refinancing, your loan has to be seasoned. In other words, your original car loan needs to be at least one year old. Other than that, the terms vary from lender to lender, but you should be able to get the better rate you are looking for, which can dramatically reduce your payments.

Just by knocking one or two percentage points off your car payment, you can save thousands of dollars over the life of your loan. Unfortunately, if you obtained a bad credit loan when you purchased your vehicle, there’s a good chance you owe more than the car is worth. That is not at all uncommon. The good news is that once you’ve made a year of payments, your credit score can increase and you have a better chance at getting the better rate to lower your payments.

Get Bad Credit Auto Refinancing

The average auto loan interest rate is about 8 percent. What you don’t want to do is get your loan from the car dealer themselves. Go out and get yourself a loan from from a private bank or lender in order get the very best rate that your current credit score will allow. Dealerships use their convenient, “drive home in your car today,” sales method while you are emotionally involved with your purchase. You might be surprised to see that your loan is 12 – 15% when you get your first bill.

Line up your loan before you go shopping. That way you have a bottom line to work with and the sales person can’t talk you in to purchasing more than you can afford.

What Can You Do to Get a Better Auto Loan Interest Rate?

One thing you can do to allow yourself to get a nicer car at the same monthly cost is to improve your credit score before you get a loan. Just a 1% improvement in your auto loan interest rate can save you thousands of dollars over the life of the loan. Just think… by knocking an additional $100 a month off your car loan, you can have your insurance paid for, reduce your monthly costs, or buy the more expensive car.

Know your credit score before you apply for your loan and without question be sure to download your credit reports and look for errors. Recent studies show that 1 in 4 credit reports contain errors that serious enough to harm your credit score. You’ll want to get these items removed before you shop around, and by law the credit reporting bureaus must remove any inaccurate information. You have a 1 in 4 chance in quickly increasing your credit score this way, but once you download your credit reports you’ll probably notice a couple of other quick fixes.

Download Your Free Credit Score Reports