Your credit report is your financial references when you apply for a loan when purchasing a new or pre owned vehicle. Most lending institutions now use both an internal credit score card and also a report from one of the major credit bureaus. This helps the lender determine the terms of your loan, like number of months, interest rate, and amount of down payment required.
Toyota Financial Services is the largest captive automotive lender in the United States and they provide some quick tips on how to keep an eye on your credit status and also how you can improve it. Click HERE for more information.
