So do you think that the money lender was jealous of your Bucks, PA home (Buck, PA being a wonderful place to own a home in)? Well, if that was the case then you would hardly find any cars in Bucks, PA (since a lot of people have mortgaged their house in Bucks, PA). The culprit behind rejection of your auto loan was probably your credit rating (i.e. bad credit rating).

Credit rating of a loan seeker, who is seeking an auto-loan or a mortgage or a mortgage refinance or any other kind of loan, is the first thing (and the most important thing) that the credit supplier (mortgage lender, or auto-loan dispenser etc) will look into before approving his/her loan application. So that means the credit rating is very important and can lead to rejection of any kind of loan application (not just auto-loan application).

Now, why would anyone have a bad credit rating?

When you default on your monthly payments (mortgage payments, credit card payments, or other loan payments), you incur not only late fee and interest charges but also end up with a bad credit rating. The credit suppliers or the money lenders send the report of such defaulted payments to credit bureaus that maintain the credit ratings of all individuals. So if you keep defaulting on your payments or even if you apply for too many loans, your credit rating keeps on getting worse.

So it is the bad credit rating that leads to rejection of auto-loan, mortgage loan or any kind of loan application. To get an idea of what best you can get with your credit rating, you can make use of some of the websites (e.g. www.estreetloans.com is a good one for getting mortgage/refinance offers)

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