Warnings for Student Car Loan Applicants

Here are some things you need to think about before you apply for a student car loan:

• Stay away from car loans that offer suspiciously good features. After all, car dealers and credit firms that offer financing deals with too-good-to-be-true-features are often managed by scam artists.
• To protect your credit identity, you should resolve to disclose your personal information only in secure websites and web pages. Before filling out and submitting an online application form, make sure that the site you are viewing has any of the following security indicators: (a) the code “https” in the URL box; (b) a padlock icon beside the URL box; or (c) the VeriSign logo, typically located at the left-most part of the web page.
• Do business only with credible car manufacturers and credit organizations. Before you sign up for a credit program, make sure that you have conducted your investigation regarding the accreditation of the firm with the federal and state government, the history or background of the company, and most importantly, the way the credit agency deals with its past and current clients.