Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Auto Insurance: How to Avoid a Lemon Car

Written by Linda Rey on November 16, 2011 in Insurance  |   No comments

When I was researching this auto insurance blog, I posted to a question to my Facebook page: “Have you ever purchased a lemon? What did you do about it? What help were you able to get, from where, and from whom?” The response I received?…

auto insurance lemon carWhen I was researching this auto insurance blog, I posted to a question to my Facebook page: “Have you ever purchased a lemon? What did you do about it? What help were you able to get, from where, and from whom?”

The response I received? “Yes, I squeezed it into my water, it was good.”

While I was looking for some helpful advice about what to do with a dud of a car and how to minimize your losses if you wind up with one, I understand that sometimes the best way to deal with a problem is to laugh about it.

Unfortunately, it’s not that easy to deal with a car that turns out to be a lemon. It can be especially frustrating if you go into debt or take out a loan to pay for the car, but you may have some help from federal and state laws.

Federal and state lemon laws

A manufacturer’s warranty spells out the terms under which the manufacturer is legally responsible for repairs to the vehicle or other product. The Magnuson–Moss Warranty Act, which is the federal lemon law, covers a manufacturer’s breach of warranty.

The Magnuson-Moss Warranty Act protects all consumers in the country, but each state has its own lemon law as well. Your state lemon law will outline how new, used, and leased vehicles are covered. Your state attorney general’s website should have more information about your local lemon laws.

What determines if a car is considered a lemon?

We might all like to have a manufacturer pay for our regular car maintenance, but there are certain criteria that must be met for a car to be considered a lemon:

  • The number of times the car has been repaired within a certain period of time.
  • The number of days the car has been in the repair shop within a certain period of time.

In our litigious society, even if you’re entitled to damages or repairs for a lemon car, sometimes victims still have to work hard to prove their claims. Unnecessary lawsuits and false claims have increased paperwork and protocol to the extent that the victims can be treated like criminals.

If you have a legitimate lemon claim, be prepared to put in quite a bit of time and effort on it. A friend of mine recently purchased a lemon, and she said it took several months to rectify the situation. That’s a long time to be aggravated and frustrated when you have to prove your claim.

Insurance vs. warranty

Unfortunately, repeated mechanical failure is not a covered peril in an insurance policy. Remember, a warranty is a contract and insurance is a policy. A warranty protects you when maintenance is required as a result of normal wear and tear. Insurance provides coverage that replaces or repairs damage to property in the event of natural, unnatural, and accidental hazards.

How to identify the history of a used car

Most dealerships market their inventory of used vehicles as “certified pre-owned.” This means the dealer certifies that the car has been reconditioned and inspected and that it is warrantied by the manufacturer. This certification may provide the consumer an extra layer of reassurance because any lemon law claims are made to the manufacturer, not the dealer.

As a consumer, you can also do your own research to find out the history of a used car. To start, you can check out CARFAX, a vehicle research site. With CARFAX, you can use a Vehicle Identification Number (VIN) to search the database for the full history of any vehicle.

If you’re a member of AAA, you can get a discount on a CARFAX report, but even if you have to pay full price, it’s worth the cost of avoiding the pain of a lemon car.

Homeowners Insurance: Someone Gets Hurt On Your Property
Health Insurance Coverage for Infertility Treatments
Buying Life Insurance for Your Kids
Sports Health Insurance for Kids: What Parents Need to Know
New Vs Used Cars: What You Need to Know about Auto Insurance
Your Medical History Can Affect Your Health Insurance Premium

Linda Rey is a licensed insurance agent at Rey Insurance with a broad spectrum of expertise in life, accident, health, property and casualty insurance as well as retirement planning and college funding strategies.

Follow Linda on Twitter.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

No comments yet

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Insurance Archive