Financing a car can be challenging - and stressful, especially if you're doing it for the first time.

From credit to contracts, here's what you need to know to go through it with ease.

There are three major nationwide credit reporting agencies in the U.S, Equifax, Experian, and TransUnion.

Creditor information sent to the credit bureaus comprises a significant element of your credit report.

Credit bureaus calculate your credit score based on your credit history.

Lenders (creditors) evaluate your credit history and credit score to determine whether or not to extend credit.

Credit reports include comprehensive information about you and your credit history.

Your credit score is just like the report card of your school, where the credit score is like the GPA of your school.

A three-digit number is allotted instead of getting a letter grade, called the credit score. The credit score ranges between 300 to 850.

The better your credit score, the lesser your credit risk, and vice versa.

To maintain a good credit score, you need to pay your loans on time, stay below your credit limit, and Apply for new credit only.

Ford Credit may be available to applicants with credit scores ranging from 650 to 850.

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