For automobile financing the difference between good credit and bad credit can make the difference between getting a 19% interest rate or a .09% rate currently offered by some automobile manufacturers.
Mission Viejo, CA (PRWEB) January 26, 2012
New data released by credit repair website Buildmycredit.com showed that of consumers looking to improve credit, the majority of enrollments were aimed with the primary goal of financing, or refinancing a vehicle.
The data from the popular website aimed at helping consumers build credit also revealed that 47% of all enrollments were males between the ages 25-44. Females between the ages 25-34 also showed a high interest in the websites pledge of helping consumers build credit with the majority also looking towards credit repair with the goal of getting automobile financing.
A study done by Experian, concluded that the number of Americans with bad credit rose 16% from 2006 to 2009 suggesting that the number of people looking to fix credit has risen as the economy continues to show signs of stagnation. Consumers have recently started exploring other options towards reaching financial goals and credit repair is among them.
With Banks tightening their lending standards, getting access to lines of credit has become more difficult leading the way for more consumers looking to remove bad credit items in an effort to raise their overall credit scores. For automobile financing the difference between good credit and bad credit can make the difference between getting a 19% interest rate or a .09% rate currently offered by some automobile manufacturers.
For more information about how BuildMyCredit.com can help you log on to http://www.buildmycredit.com or call them today for a free credit repair consultation at 1-855-4BUILDMYCREDIT or 1-855-428-4536.