Knowledge is Key

There is an abundance of information on the Internet today to help you purchase your next new or pre-owned vehicle.
Much of the information is redundant or doens't quite hit the mark to truly educate you on how to truly get a great deal!
We have built our site to not only help show you what the Real and Better Auto Rate is
but we also want to help you understand the process and way automotive financing really works.


Credit Bureaus and Your Credit Score
(The Good, The Bad and The Ugly)

CCredit Bureaus (Experian, Equifax and Trans Union) were designed to provide creditors a history of your monthly payments concerning secured debt, revolving debt and home mortgage as well as any bankruptcies, judgments, tax liens or collections. From this credit history a score is generated reflecting the probability in repaying your debt.

The Good

The good news comes when all three bureaus have the same consistent data and a credit score is generated that is fairly consistent. Each bureau weights debt in a slightly different manner causing small variations in score. Whether your credit score is high, average or low, having consistent credit scores on all three bureaus gives the same picture of you to each lender reviewing your credit. As you can readily see in, your credit score (also known as FICO credit score) is one of the criteria needed to provide you the best rate available.

The Bad

The bad news comes when the bureaus have a wide divergent in score. This happens when creditors choose not to provide their data to all three bureaus. Usually this occurs to avoid the added expense particularly when that creditor makes their decisions from one specific bureau. Most commonly, lenders such as credit unions or small banks will often report to one or two bureaus only. Also, any particular area of the country might prefer one bureau versus another. If your lowest credit score is on a bureau that is used by a specific lender providing the best rate, you will be presented a higher rate than you truly deserve.

The Ugly

Because of this wide divergent in your FICO credit scores, ugly things can happen at an auto dealership. When you allow the sales staff to run your credit, most often you will be provided the lowest score from the three bureaus they run. The auto dealer may be stuck using this lower credit score to provide a loan from a particular lender or they may use your better credit score on an alternate bureau to acquire a better rate thereby creating additional profits for themselves.

Always ask for all three bureaus credit scores when shopping for an automobile and check with to know the best rate you should receive.

Rateous shows everyone the best interest rate.

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Hate to Negotiate?

Negotiating with an auto dealer can be frustrating even when you're armed with as much information that's available. What's becomes more difficult is the method used by auto dealers to give you options called a " menu presentation". This presentation has multiple monthly payments with various yearly terms and down payments. Even the most seasoned negotiator can't be sure they are receiving their best deal with their best rate and best monthly payment. At Rateous, we will work on your behalf directly with a choice of auto dealers to insure you get the best deal you deserve regardless of you credit situation. Unlike many other web-sites, there is no fee for our service which makes your buying experience easy and enjoyable.

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