Giving You a 2nd Chance on Car Loans!

Credit Scores: A Lack Of Specialization

When you go to the doctor, you have the option of going to one that specializes in anything that could possibly be wrong with you. As you watch a baseball game, you might see a host of specialty players: closer, DH, or a pinch-runner. Why does someone see a limited credit score sheet when they consider you for a loan?

Subprime and second chance auto loan candidates are the most affected by this narrow scope of information. All a lender might see is a 620 score, not that the consumer paid all of their bills until laid off, filed bankruptcy because their employer folded, or had a severe, but temporary disability. The score tells the end game not the story which could truly influence a lender to approve their immediate needs based on current information and not just what has accumulated.

If a store can specialize its merchandize and a football player can make millions just returning punts, why can’t a credit rating system be developed that explains why a person missed payments or filed bankruptcy?

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