The Difference Between Hard and Soft Credit Inquiries

Let’s admit it: credit can be confusing. Sure, you can do everything in your power to assure that your credit report is in tip-top shape, but there are still unforeseen factors that end up dooming your cause. For example, have you ever heard of the different between a soft inquiry and hard inquiry?

If you haven’t, I suggest you read some of the details below. When it comes down to it, the best way you can protect your credit is by being vigilant and smart. How do you acquire these two attributes? You want to be knowledgeable regarding the subject of credit, as ignorance won’t help much if you’re in some kind of legal trouble.

So say you recently learned that you have bad credit while you were applying for bad credit car loans in Cincinnati. The best way to improve your credit (and prevent this from happening in the future), is to learn about credit inquiries…

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How to Search a Used Car Lot for the Perfect Vehicle

Perfect Used Car

When you arrive at a used car lot your eyes will open wide. From cars to trucks to SUVs, you have hundreds of options. Where will you start? How will you find the vehicle that best suits your style and budget?

While you are sure to have many questions on your mind, it makes sense to stick to your plan. You have a basic idea of what you are looking for. You also have an idea of how much you want to spend. Keep this information in mind as you search the lot.

This will ensure that you eliminate those that don’t suit your needs, while also making a short list that provides you with greater focus.

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Buying a Certified Pre-Owned Vehicle with Bad Credit

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Life happens.

That’s a much more ladylike alternative to the other, more popular phrase, but you get the point.

Sometimes, factors both within or beyond our control, negatively impact the credit we’ve established for ourselves.

But that doesn’t change the fact that modern life, with all its professional and personal responsibilities, requires certain conveniences to meet those demands, and a car is chief among them.

Even if your credit has plummeted to less than stellar depths, you can still find plenty of car loans for bad credit.

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3 Ways to Make the Best of a Bad Credit Car Loan

Bad Credit Car Loan

Just because you have bad credit doesn’t mean you should suffer when it comes time to purchase a vehicle. If you take the right steps, you should be able to find a car that suits your every need, regardless of your credit score and history.

There is a lot you need to know about car loans for bad credit. For example, some dealers are more likely to work with you than others. Here are three ways to make the best of this type of loan:

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Bad Credit Auto Loan: Better Than it Sounds

Bad Credit Auto Loans

Every year, millions of people just like you are in need of bad credit auto loans. These consumers made some mistakes in the past, but that doesn’t mean they should never be able to purchase a car again in the future.

A bad credit auto loan doesn’t sound too good on the surface. There are two parts to this term:

  • Bad credit
  • Auto loan

The auto loan part sounds good. This means you are borrowing money from a bank in order to purchase a new or used vehicle.

The bad credit part is a bit more challenging to wrap your hands around. The reason is simple: there is this stigma regarding the process of obtaining an auto loan if you have “less than good” credit.

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Credit Scores: 10 Important Things You Need to Know

Good Credit Score

Your credit score can influence many things in your life, from how much you pay on your mortgage to whether you can get approved to buy the new car you want. If you don’t have a high credit score, bad credit auto loans can help you buy a new car, taking care of at least one major need.

Getting your credit in good shape is the best thing you can do to open up the best financial opportunities and save yourself thousands in interest. Having a good understanding of the credit score can help you make smart financial choices. Here are 10 important things you need to know about credit score:

1. Your Credit Score Affects More than Loans

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The Best Plan for Buying a Car with Bad Credit

Bad Credit Car Buying

Buying a car with bad credit isn’t the end of the world. Millions of Americans are going through the same situation you are, but are able to find plenty of bad credit car loans available.

The hard part about shopping for a car with bad credit is making sure you’re ready to buy a car, and can absolutely afford to do so. I say this because you’ll likely have less overall selection with a small budget and a higher interest rate due to the risk associated with bad credit car buying.

The good news is, a car loan is a great way to prove to lenders that you’re paying your bills on time and are responsible with your credit.

Here’s a simple plan of action to get yourself ready for the car buying process:

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5 Little Known Ways Bad Credit Can Affect Your Life

Bad Credit Car Loans

Nobody sets out to damage their credit, however, many people find themselves in this situation for one reason or another.

While it may not sound like a big deal, there are many ways bad credit can affect your life. For example, you may find it more difficult to secure a car loan or mortgage. Subsequently, you have to adjust your approach, hoping to find a lender that is willing to do business with you.

Fortunately, bad credit car loans are available. With this type of loan, your credit score is not expected to be above average. Instead, the lender is well aware that you have bad credit and is still willing to provide financing.

It is common knowledge that bad credit can hinder the ability to secure a loan. But did you know this can impact your life in many other ways?

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New FICO Score Will Account for Utilities Payments and More

New FICO Score Will Account for Utilities Payments and More

Are you familiar with your FICO score?

While some people stay current with their score, as they understand how this impacts their finances, others never take the time to see where they stand.

According to multiple outlets, FICO has already rolled out a new scoring formula. By doing so, it hopes to assist high-risk consumers access credit.

Before we get into the finer details of the new scoring system, it is important to understand how your FICO scores impacts your finances. In short, the higher your score the easier it is to secure credit, which includes a variety of loans. Furthermore, a higher score means a lower interest rate on loans, thus saving you money.

Sure, there are bad credit car loans available to those with a less than desirable FICO score, but wouldn’t it be nice if you never had to concern yourself with this?

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The Pros and Cons of Refinancing a Car Loan

car loan

You’ve likely seen a lot of commercials promising homeowners that they can save hundreds of dollars a month on their mortgage if they just refinance. They get a huge chunk of money back, save money every month and pay off their homes faster.

You may wonder if you can do the same thing with your car loan, which is likely the second biggest investment you have made (or the biggest if you don’t own your home).

The answer is: you can refinance your loan.

However, whether or not you should is another matter. Learning everything you can about the process and then carefully evaluating your financial situation can help you make the best choice for your particular circumstances.

Here are a few pros and cons of refinancing a car loan for you to consider:

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