Commercial Investigations Inc, Reaches Out to Car Buyer's with Dented Credit
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Commercial Investigations Inc, Reaches Out to Car Buyer's with Dented Credit
San Jose, Ca (PRWEB) April 22, 2008 -- Carseek.com (http://www.carseek.com/) - Most consumers are frankly mystified by how their credit scores effect their auto purchases. For that matter, most don't even know their credit scores. Carseek.com, based out of San Jose, California works to help car buyers understand that both lenders and insurers regard a credit score as a reasonably accurate indicator of future behavior. Insurance companies relate credit scores to the probability of claims being filed while lenders use the rating as an indicator of potential defaults. Low credit ratings, therefore, translate to tougher loan terms and higher insurance premiums. As a site with a reputation for helping consumers pick the right car and get the most out of it, Carseek sees its financial functions as a logical extension of its overall role in the online automotive community.
"A lot of us got lucky and started out our driving lives with a car Dad paid for and insured," said Wes Mayder, CEO and President of Carseek.com. "Then along comes the reality of buying and insuring a vehicle solo. Most folks are so swept away by the process they just let the tide carry them along without learning about what's going on and how they can get better loan and premium rates. It all goes back to one factor: the credit score."
Credit scores are expressed in a numerical range from 350 to 850 reflecting the reliability of the consumers bill paying habits. The score is used by lenders to measure risk. High scores mean consumers are likely to be more trustworthy. "Consumers can find out their credit scores just by enrolling with one of the three credit bureaus -- Equifax, Experian, and TransUnion," said Mayder. "It's nothing to be scared about. Knowledge is power, especially when it comes to the pocketbook."
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