Archive for the ‘Credit Score’ Category

Buy Here Pay Here Benefits

Sunday, October 7th, 2018

Here at Drive Casa, we are a proud Buy Here Pay Here used car dealership. However, we understand the social stigma associated with such places. We want to set the record straight, so continue reading to learn the many advantages of getting your next vehicle at a Buy Here Pay Here.

Financing Made Easy

No matter what your credit situation, our specialists can help tailor a finance package to fit your needs. Our experience with a wide variety of financial institutions helps us provide financing for all credit levels. To get started, just complete our secure online credit application. We’ll help you get approved, making it even easier for you to shop for your next vehicle.

Credit Repair

We can report your payment history to credit bureaus to increase your credit score! As long as you pay on time, every time, your credit score will increase!

Speed

Instead of waiting awhile for a car loan to process, you can buy your car and get it financed here. Literally everything is handled by us, which makes the process much more efficient and faster.

Flexibility 

We understand that everyone’s financial situation is different. We are willing to work with you to find the financing plan that best works for you. When others won’t work with you, we always will!

We totally understand that the benefits of a Buy Here Pay Here may not be for everyone. However, for those that are struggling to find financing elsewhere due to low credit scores, dealerships like ours can be highly advantageous. To learn more about what a Buy Here Pay Here dealership like Drive Casa can do for you, give us a call at 469-336-2221.

 

 

 

How to Improve Your Credit Score

Sunday, August 5th, 2018

For lenders and financial institutions, a credit score is a good indicator of an individual’s financial responsibility. If your credit score is poor, this can make it harder for you to get financing for a car, a personal loan, or a mortgage. However, there are simple steps you can take to make sure your credit score is impeccable.

Follow the tips below and watch your credit score go from poor to excellent:

#1 – Check Credit Reports for Accuracy

Before you start paying off debts that are on your credit report, make sure those accounts actually belong to you. It’s possible that an account that does not belong to you has shown up in your report. To ensure accuracy, check each account and charges. If you don’t recognize one of the accounts, contact the lender directly. All you need to do is prove your identity and that account should be erased from your report. Once you have all your accounts in order, you can move on to the next step.

#2 – Clear Up Collection Accounts

Old debts can be easy to forget if you haven’t checked your credit report in a while. That old phone bill from college can come back to haunt you when you’re trying to buy your first home. Take a look at the debts that have been sent to collections. Call the collectors directly. If you can’t pay in full, ask if you can set up a payment plan that works for your budget. Your credit score will increase significantly once you lower your balance and settle old debts.

#3 – Get a Secured Credit Card

A great way to increase your credit score without much effort is getting a credit card. However, if you have a tendency to overspend, a secured credit card can give you a smaller line of credit that is easier to handle. Your credit line with a secured credit card will often depend on the deposit you provide. If you feel like $200 is a manageable line of credit, use that amount for your deposit. Plus, secured credit cards are designed for people who are trying to improve their credit. If your credit score is less than stellar, you may still have a chance of getting approved.

#4 – Pay Bills On Time

One of the best and easiest ways to show that you are financially responsible is paying your bills on time. If you usually pay your bills days or weeks after they’re due, it may affect your credit score. Take a look at your monthly bills and see if any service providers will allow you to set up auto-pay. This way, you won’t have to keep up with your bills and the money will be deducted from your account automatically each month.

#5 – Keep An Eye On Your Credit Utilization Ratio

Paying off your credit card balance on time is important, but keeping an eye on your credit utilization ratio can save you from losing points on your credit score. Ideally, you should keep your debt-to-credit ratio under 30%. You should also avoid closing any unused credit card accounts. This will affect your utilization ration percentage and would do more harm than good. However, if you do decide to close any consumer credit accounts, make sure you maintain a 15% utilization percentage without having that credit card.

Following the tips above will get you on your way to a better credit score and teach you invaluable lessons about personal finance. Good luck on your journey to a perfect credit score!

At Drive Casa, we want to get you financially fit. Stop by one of our locations and find out how we can help you get the car you want while raising your credit score.