This section is about the various aspects of your personal credit, and how credit impacts your vehicle financing experience. It's also about your budget, and how budgeting wisely can help you acquire the car or home of your dreams. This section includes:

What You Need to Know About Credit

The credit part of this section covers basic information about:

• What's involved in applying for credit
• Creditworthiness and the purpose of credit records
• How creditworthiness affects you and your ability to get credit
• How and why credit reporting agencies maintain credit reports
• How to obtain your personal credit report
• What a credit score is and how it is determined
• How to avoid or correct credit problems
• What are the consumer protection laws related to credit

Credit Has More Than One Meaning

The word credit can be used in two ways:

1. Credit allows you to buy now and pay later. You may be looking to buy something that you really need, but don't have the cash to pay for the purchase at that time.
2. Credit is a person's reputation for paying bills when due. This is also referred to as your willingness and ability to pay.