What does AUT FIN USA mean on my credit report?
Learn about AUT FIN USA, an automotive trader offering loans for financial assistance. Check the impact to your credit report and financial status.
What is AUT FIN USA?
AUT FIN USA is shorthand for Grupo Autofin Mxico, with the company name being Grupo Autofin México
AUT FIN USA is a Automotive Trader provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Grupo Autofin Mxico.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average account balance is $12400.
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⚫ The average high credit balance is $21700.
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⚫ The typical loan duration is 58 months.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for Grupo Autofin Mxico:
Address:
- 3180 E Imperial Highway, Suite G. Lynwood, CA 90262.
Website:
Email:
Phone:
Payments
Autofin USA offers a monthly payment plan that includes benefits such as a contrata en pesos y paga en dólares, seguro de vida, no requieres Seguro Social, pagos en México o Estados Unidos, aceptamos Matrícula Consular como identificación oficial, mensualidades congeladas, asesoría legal, financiera y jurídica. You can make payments online, over the phone, or through a mobile app. Other payment options include using a check or money order, or a wire transfer. There are no penalties for late or missed payments.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | Yes |
| Can I make payments over the phone? | Yes |
| Can I make payments online? | Yes |
| Can I make a payment using a mobile app? | Yes |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
loan forgiveness is not offered. loan forgiveness can be qualified for by making 60 punctual payments of equivalent to 33%, by making 60 punctual and/or advance payments equivalent to 33%, or by liquidation (incapacity or death). Additionally, a life insurance included in the monthly payment provides protection to the beneficiaries in case of death or total permanent incapacity and generates financial security.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online with Plan Mi Casa. It includes a life insurance that covers for total permanent disability and death, with payments due on the 5th of every month. The procedures for the insurance must be completed in Mexico and you can anticipate your payments for benefits. You cannot apply for a loan over a phone call or in person. You can call 702 476-0333 to schedule a meeting and discuss loan options. Benefits of applying for a loan include the ability to pay in dollars, life insurance, payments in Mexico or the US, and more. You can also apply for a loan with a cosigner. The loan includes a life insurance which provides protection to beneficiaries in case of death or permanent total disability, with the insurer covering the balance if necessary. The beneficiary must be of Mexican nationality, and you can anticipate payments in order to cancel the last installments.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | Yes |
| Can I apply for a loan over a phone call? | No |
| Can I apply for a loan in person? | No |
| Can I apply for a loan using a mobile app? | No |
| Can I apply for a loan with a cosigner? | Yes |
IdentityIQ Report Example
- This is an example of what this creditor will look like on your IdentityIQ report.
Will this affect my credit score?
Whether this account affects your credit score depends on a variety of factors, such as:
- Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
- Derogatory Markings: If this account has any derogatory markings such as:
Lates, Charge Offs, Collections and others.
However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:
- Account Age: If your account is quite old, then the age of it will positively impact your credit score
- Repayment History: If the account has no
Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.
Can it be removed from my credit report?
Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.
However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.
What is a Automotive Trader
A Automotive Trader is any company that buys or sells vehicles. They will report on your credit report if you bought a car on credit or took out a loan during the purchase of your car. The repayment date is normally around three years, and the interest rate is typically between 3-13%. If you fail to make payments they may hire a collections agency which will try to either:
- Collect the (alleged) missed payments
- Try to reposess the vehicle
Either option is not ideal for you life as it may cause undue distress, expecially if the debt has not been reported correctly or there has been a mistake in the reporting process. The best way to protect yourself from automotive debt collectors is to challenge then repair any potential errors on their reporting.
How do I remove AUT FIN USA from my credit report?
You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.
