Getting a car loan doesn't have to be a nightmare, even with bad credit.

Avoid Online Fraud When Applying for a Car Loan

last updated April 9, 2014 by

identity theft auto loans

Like with many financial transactions, auto loans have become a way for identity thieves to steal personal information from borrowers. All borrowers need to be cautious of this threat, and at Complete Auto Loans, we are trying to help in any way we can. Through our work in the auto loan lending industry, we understand first hand the risk involved for any and all borrowers. Therefore, we are offering some simple advice to those who are looking to get a bad credit auto loan.

Protect Your Personal Information

The Federal Trade Commission (FTC) offers consumers a guide to identity theft and prevention. For instance, quite possibly the most important thing to protect is a Social Security Number (SSN). To do that, the SSN card should not be carried on anyone’s person. It should be kept in a locked, fireproof box in the home. If the DMV or insurance company wants to use the SSN as a unique identifier, suggest that they use another piece of information. The more place the SSN is present, the more of a risk people are taking at it being stolen.

Buy a Shredder!

Another important tip is to purchase or gain access to a paper shredder. Any mail correspondence containing information pertaining to credit or other sensitive issues should be shredded. For online bill pay and loans, only use companies who use secure encryption. That can found that out by emailing the website and by looking for the little lock icon next to the url. No legitimate website will ask for sensitive information through an email. Even on a phone call, consumers need to be careful that they are actually dealing with a legitimate company. At Complete Auto Loans, we are happy to offer a secure website for customers to come and get the money they need without having to worry about identity theft.