[CAL] has released an extensive article on FICO scores and how they affect consumers’ ability to obtain loans.
Seattle, WA (PRWEB) August 20, 2013
Consumers seeking auto loans are often confused and frustrated after being rejected by lenders. The exact reason for rejection may seem unclear and complicated, leaving them no better than when they began. Complete Auto Loans has seen the need for clarity in the lending process. As a result, they have released an extensive article on FICO scores and how they affect consumers’ ability to obtain loans.
The article describes how influential the FICO is in the lending industry, and then explains what that means and how it applies to consumers. “The FICO is based on a custom statistical analysis computer program that is the dominant method for deriving the risk associated with any given applicant. Based on the credit history of the person being assessed, this program can assess the risk of default for anyone... and do it with a surprising degree of accuracy.”
Complete Auto Loans (CAL) details important aspects of the FICO, such as payment history on current debts. Being financially responsible is vital before getting a loan, as this will decrease the risk consumers present when applying for a loan. Lenders are likely to reject those with an inconsistent or unsteady financial past. The article focuses on several additional factors, improving the loan process for consumers of every kind.
About Complete Auto Loans:
CAL provides bad credit auto loans online. Their unique finance platform can accept 100% of applicants, regardless of poor credit or even bankruptcy. By visiting http://www.completeautoloans.com, consumers are able to find the ideal loan for their personal financial situation, all through a quick and easy online process.