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If you’re in the market for an auto loan, one of the first things you should do is take a look at your credit report. This document provides the data that goes into calculating your credit score; your credit score, in turn, plays a huge role in determining what interest rate lenders will charge on your loan and whether you’ll be able to get a loan to begin with.

Awash in numbers and data, a credit report can look like gobbledygook to the uninitiated. Getting up to speed on how it works is clearly important. Let’s unlock its secrets.

Your credit report is a document that comprehensively details your credit payment history. Ever owned a credit card? Or taken out a bank loan? If you have, it’s likely that information regarding your account activity will be reflected on your report. But this sort of payment data isn’t all that your report will contain. Typically, four types of information are reflected:

1. Personal information. This includes your name, spouse’s name, social security number, current and previous addresses, birth date and current and previous employers. This data is culled from your past credit applications, so its accuracy is dependent upon how completely and honestly you fill out forms each time you apply for credit.
2. Credit information. Included is information regarding each of your accounts with banks, retailers, credit card issuers and/or other lenders. Credit limits as well as loan amounts and balances are detailed, along with payment patterns going back a few years.
3. Public information. This includes bankruptcies, tax liens and monetary judgments, and, in some states, overdue child support.
4. Inquiries. Included are the names of those who requested and obtained copies of your credit report.

Not all of this information remains on your credit report permanently.

• Positive credit information will remain on your report indefinitely, although information about an account will fall off your report if nothing new is reported for seven years.
• Negative credit information remains on your report for up to seven years after the date of the original delinquency.
• The length of time for which a bankruptcy will dog your credit depends on the type of bankruptcy that you file. Chapters 7, 11 and 12 remain on your credit report for 10 years. If you file a Chapter 13 bankruptcy (under which all or part of all debts owed are repaid under a court-approved payment plan), it will be deleted from your report after seven years. All other public record information typically falls off after seven years.
• Inquiries are typically cycled off your report after one to two years, depending on the type of inquiry.

There is, of course, some personal information that your credit report does not reveal. It doesn’t reflect information about your race, religious preference, medical history, personal lifestyle, personal background, political preference or criminal record.

The following points shed some light on how lenders evaluate your report:

• As one would expect, on-time payments are viewed as a plus by potential grantors of credit.
• A low debt-to-income ratio (under 20 percent) is ideal. This ratio is calculated by dividing your total monthly debt (rent or mortgage payments plus credit card minimum payments plus loan payments and the like) by your total gross monthly income.
• Lenders tend to frown upon those with too many credit cards. The available credit on these cards is viewed as being potential debt.
• Late payments hurt your rating. The later the payment (whether 30, 60 or 90 days) the more of a negative it will be.
• Frequent requests for additional loans or credit cards can count against you. If you’ve had more than four inquiries made within the past year, it will hurt your chances to get new credit.
• Numerous changes in address and/or employment may also hurt your rating. Lenders like stability.
• As one would expect, items like bankruptcies and charge-offs are viewed negatively.

If you find information that you believe to be incorrect in your credit report, you’ll need to address it. Contact the credit bureau in writing, including documents that support your position. Make sure your letter lists your name and address. Clearly identify the item you believe to be invalid, explain why you think it is erroneous and request its deletion. The credit agency must reinvestigate disputed items, usually within 30 days. The law states that erroneous information, or disputed information that the credit bureau is unable to verify, must be deleted from your file.

You’re probably wondering how get a copy of your report. It may be ordered from any of the three credit bureaus — Experian, Trans Union and Equifax.

Remember, forewarned is forearmed. Even if you’re not currently hunting for a car loan, it’s a good idea to take a look at your credit report now. That way, problems can be addressed before they have a chance to hurt your prospects.

By Warren Clarke, Automotive Content Editor
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This last June Shanghai GM Sold 2 Millionth Buick in China
by Chris Shunk

Shanghai – The 2 millionth Buick sold in China by Shanghai GM, a red New Regal sedan, was delivered today to its owner in the southern city of Guangzhou.

“It took eight years for Shanghai GM to sell its first 1 million Buicks, but only three years to sell its second 1 million units,” said Kevin Wale, President and Managing Director of the GM China Group. “This demonstrates the ongoing popularity of Shanghai GM’s leading mainstream brand in what is now Buick’s largest market.”

Shanghai GM, GM’s flagship joint venture in China with SAIC, began manufacturing and selling Buick products in 1998. Shanghai GM has built a portfolio of more than 40 Buick models and variants, making it one of the most comprehensive brands sold in China today. It also has been recognized for its pioneering Buick Care aftersales service.

Leading the way for Buick are the Excelle and GL8 families. Since the Excelle’s introduction in 2003, more than 900,000 Excelle sedans, Excelle HRV hatchbacks and Excelle Station Wagons have been sold, including more than 94,000 in the first five months of 2009. Shanghai GM also has sold more than 240,000 GL8 and GL8 FirstLand executive wagons since the product’s introduction in 1999, making the GL8 the undisputed leader in the segment.

Buick is entering a new era of development with a series of new products and powertrains that offer an enhanced driving experience. Its next-generation models like the New Regal are based on global platforms and feature the latest technology while retaining Buick’s traditional characteristics such as a quiet ride, a high level of safety and elegant styling.

According to Wale, “Buick’s newer models are proving popular due to their outstanding quality, design and value. They represent the attitude, achievement, capability and entrepreneurial spirit of their owners.”

From the New Regal’s introduction last December through the end of May 2009, more than 34,000 units have been sold, giving it leadership in the upper-medium sedan segment with a price range of RMB 180,000 to RMB 250,000 (US$26,000 to US$37,000). In addition, Shanghai GM has sold nearly 2,800 imported Buick Enclave SUVs, with demand continuing to outpace supply.

With the upcoming introduction of the Buick New Regal 2.0 Turbo and new Buick LaCrosse featuring a 3.0-liter V-6 SIDI engine, demand for Buick vehicles across China is expected to continue to grow.

The Buick brand has a long and distinguished history in China that dates back to the early days of General Motors itself. In the first part of the 20th century, Buick was the car of choice for many of the country’s influential citizens. Such individuals as Dr. Sun Yat-sen, China’s first provisional president; Zhou Enlai, who became China’s premier; and Pu Yi, the last emperor of China, owned, drove or were driven in Buick automobiles.

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Article by Gary Hoffman, correspondant for AOL Autos:
 Best January Deals.

Gary’s Pick: 2010 Chevrolet Cobalt

The Cobalt wins the nod this month mostly on financial grounds. The Cobalt has low invoice pricing, a competitive financing deal and great fuel economy. That qualifies it as nearly the perfect vehicle for tough economic times. Available in two body styles (coupe and sedan) and in four trim levels, the Cobalt offers a comfortable, quiet interior and a good-looking exterior. You have a choice of a 2.2-liter four-cylinder engine with either a five-speed manual or a four-speed automatic transmission, or a 2.0-liter turbocharged four-cylinder engine with a five-speed manual, naturally enough, on the SS Turbocharged model. While Chevy dealers don’t have a fire-sale mentality right now, inventories were a bit high last month, and that may account for the substantial incentives that GM loaded onto the Cobalt for January. That oversupply could also improve your bargaining position when you start shopping. And bear in mind that Chevrolet already has a replacement in the wings for the Cobalt and dealers won’t want the model sitting on their lots forever. Its successor, the Cruze, is already being sold in Mexico and is due out in the U.S. during the second half of this year.

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Did you know General Motors developed the forerunner of the familiar concrete barriers that are an integral part of the nation’s highways? Or that GM was the first automaker to put rear turn signals in a vehicle as standard equipment?

GM’s safety leadership extends as far back as the birth of GM itself and continues today with such innovations as OnStar and Stabilitrak.

Click on the above image to view GM’s Safety Firsts — an interactive timeline of our many product safety innovations.

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We’ve all been there.  You just made the decision to purchase a new car.  You’ve finally come to terms with having car payment for the next four to six years.  You may even be feeling sick at this point as you get ready to sign the paperwork. 

And no sooner than you sit down, you’re hit with the infamous sales pitch that goes a little something like this: “Will you be purchasing an extended service plan —because if you don’t take advantage of our offer TODAY, the price will double or even triple when you go to buy it later….”

Then you panic.

As a former finance and insurance manager, I can spot that panic from a mile away.   But I also know what it’s like to be in your shoes as a consumer.

So is there any truth to the manager’s insistence that you have to buy a warranty at the time of sale?

Honestly, it depends.

In most cases, the warranty cost will not significantly jump within the first 12 months/12,000 miles that you own the car.  Therefore, if you are unable to buy a warranty at the time of sale, you can generally come back with a credit card down the road and still find a significant savings than if you wait until the expiration of your factory warranty.

However, there are a few situations where buying the warranty at the time of sale makes good financial sense for you, the consumer.

The number one reason to purchase your warranty at the time of sale is to include it in your monthly car payment.  Comprehensive warranties can cost anywhere between $800- $2500.  Therefore, it’s much easier to tack on an additional $25 a month to your payment than come up with one lump sum down the road.

You should also consider buying a warranty at the time of sale if you plan to keep the car for more than 3 years.  Your business manager isn’t lying when he/she tells you the price can double or triple right before your factory warranty expires.  If you have any doubts, ask the manager to quote the price for a car that already has 3 years/36,000 miles on it.  You’d be amazed at the increase.

Finally, I’d highly recommend buying a warranty at the time of sale if your car is pre-owned.  In most cases, dealerships sell “wrap” coverage that extends the remaining factory warranty or provides better coverage to match an existing powertrain warranty.  Either way, these plans are discounted and you usually can’t come close to the price of a “wrap” after you decline the initial offer.

So based on the information above, it’s clear that buying an extended warranty at the time of sale isn’t for everyone- but it’s certainly not a gimmick either. 

It’s up to you to evaluate your circumstances and plans for the vehicle.  If you’re the type of person that keeps their cars and doesn’t have spare change laying around for a $2500 car repair, than budgeting an additional $25 in a payment is the way to go.  Then again, if you buy cars like a woman buys shoes, forget it.  Educate yourself on GAP insurance instead (because that’s definitely something you’ll need!)

The bottom line is, don’t be put off by the sales pitch.   Yes, the dealer wants to make money, but some of the things they offer are for your good.   To come to a site like MyDealerReport.com means you’re on the right track, so take the time to learn what products they are offering and what kind of savings you will get for immediately signing on the dotted line.

You may visit Amber’s personal blog at www.caringlegalservices.com

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It’s always interesting working on the launch of a new product, especially one that’s been absolutely redesigned from the ground up. There are creative challenges, and inspiring moments and rewards when the plan comes together. It takes the experience, expertise and confidence of a world-class team to pull off a launch, and that’s the kind of team I have had the pleasure of working with.

The 2010 Buick LaCrosse will be ‘officially’ revealed at the North American International Auto Show in Detroit, but we revealed photography of the all-new luxury sedan on the morning of January 8. The response has been incredible and gratifying to everyone who worked on this project! We believe that the 2010 LaCrosse is the great next step in the renaissance of Buick, after the strides already made by the Buick crossover, Enclave. Motor Trend agreed.

This world-class sedan has a sculpted exterior design that is instantly recognizable as a Buick, especially with the signature waterfall grill and “sweep spear” body-side styling. LaCrosse is for buyers who want a modern sedan without excess. The interior is crafted from premium materials like warm wood, smoked chrome accents along with French stitching on the instrument panel that is combined with cool blue ambient lighting that relaxes the driver in a library quiet environment. See what AutoWeek said about the interior here.

LaCrosse offers a range of technologies like Navigation, Bluetooth connectivity and safety features like heads up display and side blind zone alert and OnStar … a combination of technologies not available in any competitive vehicle. No sacrifices on the powertrain either, with two advanced direct injection V-6 engines mated to a six speed automatic for improved fuel efficiency with a new all wheel drive system.

LaCrosse can definitely deliver modern luxury, dramatic design, interior craftsmanship and personal technologies that our luxury seeking customers have come to expect. I’m excited at the passion around this car, and for the renaissance of Buick. I’m anxious to hear what you think!

Susan Docherty
General Motors

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Don’t even think about saying a bad word about this beautiful car. The fit and finish is better than any other ‘back from the past’ car I’ve seen so far. We had a ride and decide here at the dealership and a Mustang owner raved about the Camaro after he opened the hood and saw the quality job GM did on this baby.

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Can you name this local landmark? 

Stay tuned and check back often … watch us build our new information website! Call me with your ideas … 908-689-0224 ext 2026

Respectfully,
Rob Grow
Rossi Chevrolet Buick Pontiac GMC

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