If you are like most people you don't know a whole lot about your credit other than whether or not you qualify for decent or specially low interest rates (0% or similar low teaser rates on new car purchases).  Do you know what your credit score is right now?  Probably not.  Did you know that your score can change really quickly based on just a few factors, so what it might have been last year or even a few months ago is probably not what it is now.

Why is credit so important?  Well, 90% of all cars are bought on credit.  New and used car dealers all know this so they have staff specific to this - finance managers and such that work directly with the banks to maximize their profits (note I di not say to help you because this is true - finance managers are solely their to make you pay as much as possible and make the dealer big profits - most car dealers make more money through the financing section o the dealthan by selling the car!)  It's also a fact that 99.9% of all homes are bought with some form of loan or loans (many homes have multiple mortgages - 2 is the national average).  And all of these purchases will require a credit review including your score.

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Now, I know that you have heard that everyone is entitled to one free credit report per year as a part of federal law designed to help stop or minimize credit fraud.  But there is one problem with it.  Do you know what that is?  As with anything else, you get what you pay for.  Your free credit report is just that.  It does not include a score or help you figure out exactly what kind of loans you may or may not qualify for.  It also does not help you figure out exactly what can be done to save or fix your credit and the time frame of these possible fixes - will it take a few months or years?  I don't know about you, but I like to know things quickly and now if possible.

I also like to have some customer service like a toll free number I can call at any time to get some free help.  Now, it's a known fact that you need to personally review your credit report atleast once a year and anytime after anything strange happens like mail for someone that doesn't live at your address trying to open an account, letters to your address requesting certain credit related products you did not sign up for, phone calls from collection agencies for items you did not purchase (these can be quite annoying but they should tip you off to the fact that someone is trying to steal your identity), etc...

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A credit score can greatly help you to see where you sit so you will know before hand exactly what you qualify for and so there won't be any nasty surprises when you go down to the car dealer to apply for that car loan.  If you don't know your credit score the car dealer will always show you the worst score of the 3 credit bureaus (Experian, Equifax or Transunion) to make you qualify for the highest rate that makes them the most money possible.  Instead go prepared.  Get your credit score pulled prior to going down to the dealer.  You will save big this way!  Get Equifax Score Watch Now!