What does CALIFORNIA AUTO FINANC mean on my credit report?

Is CALIFORNIA AUTO FINANC making an impact on your credit score?

Updated January 1, 2023
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What is CALIFORNIA AUTO FINANC?

CALIFORNIA AUTO FINANC is shorthand for California Auto Finance, with the company name being California Auto Finance Inc

CALIFORNIA AUTO FINANC is a Automotive Trader provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with California Auto Finance.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $1400.

  • ⚫ The average high credit balance is $9900.

  • ⚫ The typical loan duration is 40 months.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for California Auto Finance:

Address:

  • 311 E Katella Ave, Orange, CA 92867, United States

Website:

Email:

Phone:

Payments

Customers can make payments online, over the phone, or through a mobile app with California Auto Finance. There may be penalties for late or missed payments. Wire transfers, prepaid debit cards, and checks are all accepted forms of payment.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
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

California Auto Finance does not offer loan forgiveness or consolidation. It is unknown how to qualify for loan forgiveness.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

California Auto Finance offers an online portal to apply for a title loan and check your approvals 24/7. You can also apply for a loan in person or with a cosigner. The company specializes in dealer relations and offers personalized finance programs.

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? Yes
Can I apply for a loan using a mobile app? Yes
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.

CALIFORNIA AUTO FINANC 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 CALIFORNIA AUTO FINANC 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.