Credit Advice » Loans » Auto


Buying a car is often the first big purchase many people make. If, like many people, you can’t pay cash for such a purchase, you may be planning to get a car loan and wondering what you’ll qualify for. To make your new car a reality, consider the following:

What Factors Will Lenders Consider Most Important on Your Credit Report?

  • How much you already owe.
  • How much unused credit you have available.
  • How prompt you are in paying your debts.
  • Whether you have recently applied for new credit.

What if You Have no Previous Credit?

Lenders may ask you to show that you pay your rent, telephone bills or utility payments on time.

Can I Get Out of a Car Loan without Ruining My Credit?

August 17, 2017

Dear Experian, If I voluntarily surrender my vehicle and I pay off the settlement balance of the difference between what they sold it for and what I still owe,...

Multiple Inquiries When Shopping for a Car Loan

July 27, 2017

Dear Experian, I went car shopping one day and now there are lots of inquires that say they will be on my credit report until 2015. Is it right for...

What Credit Score Do I Need to Buy a Car?

November 8, 2016

Dear Experian, I’m trying to buy a car. How can I improve my credit score quickly? What credit score do I need to buy a car? – BBK Dear...

Can I Buy a Car with a Credit Card?

October 11, 2016

Dear Readers, We sometimes get asked whether you can buy a car with a credit card. As with most credit questions, it depends. The answer is that it depends...

Buy-Here-Pay-Here Dealer Not Likely to Report Payments

July 17, 2016

Dear Experian, I bought a car from a buy-here-pay-here place and paid off the car in full. Can I add that to my credit report? - HOL

Impact on Credit Scores of Inquiries for an Auto Loan

July 12, 2016

Dear Experian, I run an auto dealership that sells luxury automobiles. I understand that multiple inquiries within a "shopping" timeframe do not hurt an individual's credit score. Can you explain...

Paid Auto Loan Remains on Credit Report

September 6, 2015

Dear Experian, When checking my credit report, I noticed that my old auto loan was still on the report. I had received a letter from them months ago saying the...

Getting Your Credit Scores Before Buying a Car

May 6, 2014

Dear Experian, I'm buying a car and would like to know my credit score. How can I obtain this before shopping? - NTS

Auto Loan Inquiries and Credit Scores

September 10, 2013

Dear Experian, We are going to purchase a car and would like the car dealer and two banks to check for interest rates. How does that ding my score, or...

Multiple Auto Loan Inquiries Count Only as One

January 30, 2013

Dear Experian, I was shopping for a car recently and multiple lenders checked my credit. I have checked my credit report and all inquiries are showing up. I thought when...

Best Auto Loans

Find new or refinance auto loans with the best rates and terms, and choose from offers with the monthly payments that fit your budget.

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5 Budget-Friendly Ways to Give Back

As the holiday season ramps up, Americans often increase their charitable giving. Here are five ways to give to others while still staying on budget.