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Wednesday, October 9, 2013

Automaker Relying More on Subprime Loans

"[GM] is relying increasingly on subprime loans [to have their cars financed], 10-Q financial reports show."  If your FICO score is close to or below 660, be cautious about what you're buying and your loan agreement.  We've seen this story play out before and the individual doesn't win when the market tanks.  Be money conscious and contact each of the credit rating agencies (Experian, TransUnion and Equifax) for a free copy of your credit report.  You may also contact for a report, but it's only free if you cancel before the 7-day free trial ends.  Otherwise, you're charged $19.99 monthly

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