You have already decided to buy a New Car; you will surely have noticed that the requirements in any agency are very similar and among them is the excellent review of the credit history. loans no money down car financing
But before going on, you should know that the Credit Bureau is a file that reveals information about a person’s credit history and that serves for companies as valuable information to decide whether to issue a credit or not.
If the issue is that you are inside the credit bureau for lousy payer this you can do:
- Contact the bank and reach an agreement to settle and avoid financial problems.
In another case, the rules of operation of the Credit Information Societies say that cleaning up the financial history is not difficult, but it may take between one and six years, depending on the amount of the outstanding debt or the interest payable.
Articles 23 and 24 of the Law to Regulate Credit Information Companies, issued by the Bank of Mexico, establish:
- Debts less than or equal to 113 pesos are eliminated after one year.
- Debts not exceeding 2,500 pesos disappear in two years.
- Debts greater than 2,501 pesos to a maximum of 4,500 pesos are discarded in four years.
- Liabilities greater than 4,501 pesos remain for up to six years.
But what can you do if you are wrong in the Buro Autoplaza gives you options:
- Search for Special Promotion Financing (not all agencies have this)
- Process on behalf of another person
- Save to buy from Contado
- A Savings Insurance to buy cash
Now you know what you should do if what you want is a New Car and you are wrong in the Credit bureau
Features that you must not comply with and that a miracle could not help you
You have a bad credit bureau, added to that you do not have receipts of income, you are less than 25 years old, and additionally, you do not have a down payment available, I clarify that you will not find anything that solves your situation.