Credit scores and reports are an important part of securing auto loans. Lenders need to be aware of your history so they can come up with terms regarding interest rates, loan length and other details. This is all fairly straightforward, but things can get complicated when mistakes are made in the process.

Mistakes on a credit report may have severe implications on your future finances, so you need to make sure all data is correct before signing off on a loan. Here are three steps to follow to ensure your report is accurate – even if it means contesting and fixing some errors. 

1. Get your report 
The first thing you have to do is get a copy of your credit report. Then you can look over your score and the factors that may be negatively impacting it. Any errors should be circled and clearly marked. Be sure to create your own copies for records as well. It's also important to get copies of your report from a few different credit bureaus, especially if you notice a mistake. The organizations may have different scores or errors that need to be remedied. 

2. Gather evidence
Once you identify a problem, it's up to you to collect proof of the error. You'll need to put together a dispute letter that follows the proper guidelines and support your claims with evidence. Again, be sure you're making copies of everything so you have backup in case something goes wrong. You should also send everything to the organization with certified mail, as a receipt can be sent to you upon the package's arrival. 

3. Be patient 
Then you wait. Credit report disputes usually take about 30 days to be settled, but if you haven't heard back within six to eight weeks, contact the organization again. Should the bureau recognize the mistake, it will fix the report, send you an updated history and let other providers know about the error. 

When you need a car to get to work and complete other responsibilities, all of this necessary waiting can be tough. Luckily, the entire process doesn't have to be dragged out across weeks. At NJ State Auto Auction, the financing department offers guaranteed credit approval and same-day purchasing options, allowing drivers to get behind the wheel quickly.