If you have ever tried to bake a cake but are missing one crucial ingredient, the outcome is usually far from what you desired. The same is true when it comes to financing a vehicle. You can do all your research, go on countless test drives, negotiate the price and apply for the loan. But if you aren’t sure of what is on your credit report, you are missing a vital ingredient and it can cost you hundreds, sometimes thousands of dollars in interest.

Follow these simple steps prior to any vehicle purchase and you will ensure you have a recipe for success:

1. Visit annualcreditreport.com (free website)
2. Verify that 3 bureaus are reporting the same information
3. If an error or inconsistency is discovered, contact that bureau to report the problem