How to Avoid Car Refinance Scams

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• Get your own credit score and bring it with you to the dealership.
• Don’t pay a cash deposit for your financing loan. If the deal goes bad, you can’t get your deposit back.
• Don’t apply for a car loan until you have been at the same job for at least 6 months.
• Apply for your loan online.
• Learn to fix your credit before you apply for a loan. Get your credit score to at least 680 first.
• Pay off your credit card debts before you look for a new car.
• If you have recently moved wait 6 months before applying for a loan. Your address is always verified. If you move a lot, they will not trust that they can keep track of your whereabouts should you make late payments etc.
• Having been approved for a loan in the past helps.
• Don’t get a co-signer for your loan because often times you will find that the deal is solely in the other person’s name. This will not help your credit score.