If you are going to take out a loan then you know that your credit score is going to be pulled at some time, but what does that really mean? If you do not know what is in your credit report then that is an issue because you should be keeping up on it to make sure that there are no errors being reported. If there are errors being put on your credit score report then you will have negative marks that can and will affect your ability to get approved for a used car loan and you will still have to deal with getting those removed. The more you know now the better off you are going to be when you go to fill out that application, wherever it may be.

The best way that you can be prepared is to pull a copy of your credit report and by knowing what should be on there will make it easy to spot check what you should be looking for.

What is Expected

Now different reporting is going to go on between all of the different credit bureaus, which means there will not be a uniform pattern to them. You can expect though similar aspects to be represented on each of them and they usually are as follows:

• Identifying Information - This will include name, Social Security number, date, and employment information that will be used to identify you specifically.
• Trade Lines - These will be your different credit accounts. Lenders will report on these based upon which it is that they have opened to you such as a bankcard, an auto loan, etc. It will also have information such as credit limit, loan amount, and your payment history.
• Credit Inquiries - These will appear every single time that you apply for a loan or someone requests to see your credit report. It will have a list of every name within the past two years of lenders who have seen your credit report.
• Public Record - It will include public record information on you such as bankruptcies, foreclosures, suits, wage attachments, and so on and so forth. Things of that nature which can affect a lender's look towards you.

After it is Reviewed

Of course these are some of the more generic aspects of credit reports and there will be much more for you to look through. It is crucial before applying for an auto loan that you know exactly what your potential lender is seeing. That way you can apply appropriately with lenders that are most likely to approve you. If you want to make sure that you get the best deal whether you have good credit or bad then you will want to apply here at FundingWay.com. We will review your information in just minutes and begin working to set you up with the lender in your area that is best suited to approve you. You can get financed for an auto loan in no time even with the roughest credit report in no time at all. Once you have reviewed your credit report and are ready to get that used car loan it will all be one of the simplest experiences you could ask for.