Credit Information and Education

Cowles Parkway Ford believes that knowledgeable consumers will have a better experience when they finance, and experience fewer problems in their lives due to credit problems than customers who do not understand credit - how it functions and what are the risks involved. Through our involvement with organizations such as the American Financial Services Association (AFSA) and the North American Automobile Dealers Association (NADA), we are pleased to offer several tools to understanding credit.

Understanding Vehicle Financing (PDF: 327KB): A brochure prepared by the American Financial Services Association, working together with the North American Automobile Dealers Association. The brochure provides useful information to consumers who may not be familiar with the purchase and finance process. Information includes an affordability worksheet, suggestions for handling the transaction successfully, a glossary of terms, and a brief discussion of consumer protections.

Identity Theft: For valuable information on identifying, preventing and correcting the harmful effects of identity theft, please visit the Federal Trade Commission's website at: http://www.ftc.gov/bcp/edu/microsites/idtheft/.

Credit: Important to the vehicle buying process (PDF 1.17MB): A brochure that provides you with information on credit and explains how to successfully use credit to purchase a vehicle. Topics range from the importance of understanding credit to establishing credit goals.

Improving Your Credit Rating!!

Your credit history is important in helping us determine how you can best finance your vehicle purchase. When you apply for credit online or at your Dealer, Ford Credit, on behalf of your dealer, reviews your application, any previous Ford Credit history and your credit report to make a lending decision.

Positive credit history works in your favor and will remain in your open accounts section of your credit report indefinitely. But negative credit history is reflected in both your open accounts and any closed accounts and will remain in your credit report for seven years. Bankruptcy information can remain on your credit report for up to ten years.

Consumers should know what is in their credit report. Please consult the credit reporting agency compiling your credit report for any information pertaining to your credit history. You may also order a copy of your personal credit report for more information.

Poor credit reports are the most common reason why applications are denied. However, Ford Credit will also consider other factors, such as your income and monthly payment habits, along with your credit report to determine your ability to sustain an obligation. Something as simple as financing a lower cost vehicle or extending the term could be all you need to qualify.

Developing a positive credit history is one of the most important personal financial steps you can take. Keep in mind there are steps you can take to improve your credit worthiness.

Improving Your Score, the Checklist:

	Pay off as many account balances in full as possible.
	Have a verifiable address. At least six months at the same residence is preferable.
	Stable employment history
	Timely payment of the minimum amount due for each open account
	Close old accounts you never use
	Correct former addresses or other factual errors.
	Check to see if you are a victim of Credit Card Fraud. If you suspect this is so:

	Report lost or stolen checks or credit cards as soon as possible
	Get a new card, account number and password if you use an ATM card for banking
	Contact the Social Security Administration if someone is using your social security number
	Contact the reporting credit agency's Fraud Victim Assistance Department.

If your credit report reflects inaccurate or outdated information, you can correct it. Notify your local credit bureau of the problem in writing. The credit bureau will notify the creditor involved. The creditor will investigate and report back to the bureau to correct errors that have occurred. The three major credit reporting agencies are:

• Experian: 800-682-7654
• Trans Union: 800-888-4213
• Equifax: 800-685-1111