| Do you check your credit score and credit report | | | | shaking his head. He informs you that your credit score |
| before you go shopping for a car? You might find out | | | | is only 600 and that you will not qualify for the interest |
| that it is well worth your while to do so, as some auto | | | | rate he offered you. He says that you will have to pay |
| dealers are taking advantage of the fact that many | | | | a higher rate. And not knowing any better, you agree. |
| consumers do not know their credit scores. | | | | Had you done your homework by checking your credit |
| No one likes buying a car; the entire process is | | | | score ahead of time, you would have known your |
| awkward and cumbersome. Most items we buy are | | | | actual credit score and you could have pointed out |
| plainly marked with the price, but with cars, the price is | | | | that the salesman's assessment of your credit score |
| often a mystery. Then you have to haggle with a | | | | was incorrect. At that point, you could insist upon |
| salesman and hope that you have worked out the | | | | receiving the more favorable interest rate or threaten |
| best price possible. Having done that, you have to | | | | to finance elsewhere. This is a common scam that |
| arrange financing. You can often get an acceptable | | | | works because most people really do not know their |
| interest rate when financing through the dealer, but | | | | exact credit score. |
| some dealers are padding their bottom line by offering | | | | Learning your credit score is easy. All you have to do |
| loans at higher rates than they otherwise might. | | | | is visit the Websites of one of the three major credit |
| The scam works like this - You negotiate your best | | | | bureaus - Experian, Trans Union or Equifax. For a |
| price with the dealer and you agree to finance through | | | | modest fee, you can receive a copy of your credit |
| them. You fill out the credit application and hand it over | | | | report with your credit score. Armed with this useful |
| to the salesman, who has promised you some | | | | piece of information, you can shop for a car with a bit |
| reasonable terms. He takes off to process the | | | | more peace of mind, knowing ahead of time whether |
| application and to check your credit report while you | | | | or not you can qualify for the best financing. |
| have a cup of coffee. He returns a few minutes later, | | | | |