Archive for the ‘Education’ Category
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.
While carpooling and public transit to and from work and school makes sense, but when it comes to the Summer road trips, the American automobile is the only way to go. Many memories have been made as families loaded into the car for a long drive to the coast, the lake, or to visit family in a distant state. Road trips have been bringing families together for generations, even the less fun ones with the tired cars make for good stories. Remember the trip that the car overheated, we had a flat tire or worse of all the A/C stopped working?
Before you load up the car, here are 3 summer roadtrip car maintenance tips to keep in mind.
#1 Make sure your car is well-maintained.
Maintenance and repairs while on a road trip are costly and inconvenient. Before you hit the road get your oil changed, filters changed, and have all the levels checked. Driving is likely a significant saving over airfare, so why not invest some of that savings to make sure your ride is up to the task?
#2 Don’t wait to update your tires.
If you suspect you may need tires in a couple of months, and you are trying to get that last 1/32 of an inch out of your old rubber, put new tires on before hitting the road. Hot Texas roads can take their toll on fully loaded vehicles, pushing marginal tires to failure.
#3 Test out your new updates at home first.
When doing maintenance, give yourself a week of driving the vehicle in town. You want to make sure that any problem inadvertently created in the shop manifests while at home, and not between your home and El Paso.
If you’re ready for some time with family and looking for a way to express your American freedom this July, come see us here at Drive Casa and let us put you into a car that will be key to a memorable Summer road trip.
Saving for something you want, like a new car, can be challenging. It requires discipline, accountability, and constant monitoring of your expenses.
If you find that sticking to a budget is too difficult, there are ways you can improve. Below are a few pointers that will help you reach your financial goals in no time:
Cut Back On Expenses
It’s easy to spend money, especially on things you want. In order to stick to your budget, you need to implement a little discipline when it comes to your expenses. Spending more than $200 a month on restaurants might not be the best idea if you have budgeted for $50. Take a hard look at your monthly spending and be realistic about where you can cut back.
Buy it Next Month
You’re online and you just saw the perfect jacket. You want it and you want it now, but your budget is reaching its limit. Tell yourself you can buy it next month. By that time, you will either have enough to buy it or you’ll decide you don’t want it anymore. This is a great technique to control impulse buying.
Set Up Auto Draft
Most banks have the ability to create an auto draft from your checkings to your savings account. This means you can set up a certain amount to be withdrawn from one account into the other every month without having to think about it. Not only will you not spend that money because it’s not available, you’ll see your savings grow without much work.
Stop Using Your Credit Card
The convenience of using a credit card can also be detrimental when trying to stick to a budget. Not feeling the pain of the expenses until weeks later makes it easy to overspend and go over your budget. Stick to your debit card or even cash so you can see what happens to your money in real time.
Watch Out for Big Events
Knowing when big spending events, such as birthdays or holidays, are coming up can help you prepare and adjust your budget accordingly. Make a calendar with all the important dates and make sure to adjust your budget with enough time to cover your expenses and not go over budget.
One last thing – don’t forget to stay positive! Remember that all the hard work you are doing will be rewarded soon. You’ll be driving that shiny car in no time!
If you’re in the market for a car, make sure to stop by Drive Casa! You’ll find the model you want in our wide inventory.
Have you ever wondered why you should change your oil regularly? If you’ve ever been reprimanded by your mechanic for waiting too long for an oil change, you know this is an essential part of basic car maintenance you can’t afford to forget.
Waiting too long to change the oil in your car can result in irreparable damage that you can easily avoid. Car experts, mechanics, and long-time car owners will tell you that oil is the lifeblood of your vehicle.
You should change your oil regularly to ensure your vehicle runs smoothly and keeps it out of the shop. If you are a first-time car owner, don’t look away! Below you’ll find out why regular oil changes are so important.
There’s nothing quite like fresh oil to reach peak engine performance. Engines have a variety of parts that move at high speeds. These moving parts tend to cause friction, which produces heat. If you change your oil regularly your car will have proper lubrication that reduces the amount of heat produced by the engine. Oil changes also get rid of dirt and debris, which makes your engine run slower. If your engine heats up because of old oil, it will wear down and eventually stop working properly.
Reduce Harmful Emissions
Are you a fan of the environment? It’s easy being “green” when you keep up with your oil changes. Having lapses in oil changes can lead to dirty, old oil, which produces noxious engine emissions. If you change your oil regularly, it will make your car more environmentally friendly since fresh oil won’t burn like old oil. Add oil changes to your calendar and do your part to keep our skies clean.
Regular oil changes are good for your engine – and your wallet! Better gas mileage is one of the least-known benefits of regular oil changes. Besides purchasing a hybrid or an electric car, oil changes are an easy way to save on gas. Friction caused by old oil can slow down your engine, making your visits to the pump more frequent. If your engine stays lubricated, your car will be able to go farther than you think!
Extended Engine Life
Wouldn’t we all love to have a car that lasts for years without failure? To achieve this goal, it’s important to know that purchasing a high-quality car, like the ones we offer in our lot, is only half of the effort to make the most out your vehicle. A debris-free engine, made possible by regular oil changes, can make a difference in the life of your car. Who knows? That family car may last through more generations than you think.
Catch Up On Other Maintenance
Oil changes present a great opportunity to keep your car running without issues. When taking your car in for an oil change, feel free to ask the mechanic to take a quick look at the overall health of your engine. While under the hood, they may find something that needs to be replaced or fixed. This will allow you to avoid expensive repairs and further damage to your car.
There are multiple kinds of car oils out there. If you have a luxury car, you may need a different kind of oil from someone who owns an high-mileage mode. Before an oil change, don’t forget to ask what is the best oil for your car based on mileage and model. This can give your car an extra boost and increase the engine’s performance.
Oil is essential to keep your car running without any problems. Most mechanics or car service providers will place a sticker on your windshield indicating when you should return for a new oil change. To avoid any old oil accumulating in your engine, all you need to do is make sure you take your car in on time!
Drive Casa wants your new car run like a dream and for you not to worry about an extra expense. That’s why we offer free oil changes when you purchase one of our amazing vehicles. Take advantage of this offer and keep your new car out of the shop!
Buying a car doesn’t have to be a hassle. For first-time buyers or buyers with credit issues, there are many benefits of Buy Here Pay Here Dealerships.
Buy Here Pay Here Dealerships can provide you with guidance on the type of car that might best fit your needs and budget. Also, most offer limited warranties or have certified vehicles that will ease your worries about the quality of your car.
Here are four amazing benefits of Buy Here Pay Here Dealerships:
No Credit No Problem
Regardless of your credit situation, you will always be able to get a car from a Buy Here Pay Here Dealership. The dealership takes on the risk of having customers with bad or no credit because they know credit is not the only indicator of a financially responsible person.
Buy Here Pay Here Dealerships can reduce waiting times significantly when buying a car. You don’t have to wait for a bank to approve your application or look for other lenders. The dealership will provide an approved auto loan, which makes the process much faster.
Low Down Payments
Since Buy Here Pay Here Dealerships are a one-stop shop when purchasing a vehicle, they have the opportunity to offer low down payments to their customers. This way, you are able to get the car that you need without having to pay 20% of the car’s price for a down payment.
Build Your Credit
Building your credit can be challenging at first. If you have no credit, purchasing a car from a buy here pay here gives you an opportunity to build your credit history while getting the car you want.
If you’re in the market for a car and want an alternative to typical car dealerships, try visiting a Buy Here Pay Here Dealership. You’ll find that the fast service and low down payment options are a better fit for you.
¿Por qué te conviene mejorar tu crédito? Tu puntaje de crédito es un punto de referencia para acreedores para determinar si eres lo suficientemente solvente para un préstamo, una hipoteca, o una tarjeta de crédito. Con un puntaje alto, es más probable que tus solicitudes de préstamos sean aprobadas, pero si tienes un puntaje bajo es más probable que te ofrezcan un interés más alto, que tengas que pagar un enganche más alto, o que tu solicitud sea rechazada.
Afortunadamente, un puntaje bajo no es el fin del mundo. Hay maneras en las que puedes mejorar tu crédito y subir tu puntaje.
Verifica Para Exactitud
Las agencias de crédito pueden cometer errores y aveces atribuyen una deuda o una cuenta a la persona equivocada. Gracias a sitios como Credit Karma , puedes revisar tu puntaje de crédito de manera gratuita y asegurarte que no haya ningún error. Si encuentras alguna cuenta o deuda que no reconoces en tu reporte, contacta a la agencia de crédito para que corrijan su error y para que mejores tu puntaje.
Paga tus Deudas
¿Se te olvidó pagar la última factura de luz del apartamento en donde viviste hace 3 años? ¿Le debes dinero de tu último celular? Es fácil olvidar deudas de hace años, pero una pequeña deuda aún puede afectar tu puntaje de crédito. Verifica si tienes balances en tu reporte. Entre más pronto pagues tus deudas, más pronto podrás mejorar tu crédito.
No Uses tu Tarjeta de Crédito Excesivamente
Tener una tarjeta de crédito puede ser muy útil ya que te da la oportunidad de tener más dinero disponible que puedes pagar después. Sin embargo, si llegas al límite de tu tarjeta muy seguido, puede bajar tu puntaje de crédito. Aprende sobre las mejores maneras de utilizar tu tarjeta de crédito aquí.
Abre Cuentas Nuevas
El historial de crédito es otro elemento importante que determina tu puntaje de crédito. No tener crédito puede ser tan perjudicial como no pagar tus deudas. Algo tan sensillo como adquirir una tarjeta de crédito o pedir un préstamo de auto puede mejorar tu puntaje. Es importante saber que pagar a tiempo es clave para mejorar tu puntaje de crédito.