What's the most popular credit bureau for car loans?
I want to get a car loan, but my Experian report has some derogatory remarks. Is this the bureau that most lenders use? If not, which bureau is more popular?
In order of popularity, the most common credit bureaus used by lenders are Experian, Equifax, and TransUnion. While some lenders prefer just one, many use multiple credit reports to more accurately assess a candidate’s financial fitness to take on a car loan.
Since Experian is the most popular credit bureau with lenders, you’re definitely going to want to take care of your derogatory marks. Pay them off, dispute them, or do whatever you need to do to get them resolved or removed.
However, you shouldn’t stop there. Making sure all of your credit reports are unblemished or at least free of errors or delinquent accounts is essential to your success in getting a car loan. (This is your cue to pay off the Macy’s card you forgot you opened or that power bill sitting on your counter.)
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