Posts Tagged ‘monthly payments’
Is it really possible to get better credit by financing a used car? The answer is yes! When you’re struggling with credit issues and know you need a better car, it’s easy to feel hopeless…But there is hope! Here at Drive Casa, we are a Buy Here Pay Here dealership that specializes in financing those who don’t have credit or have bad credit. Continue reading to learn how buying a used car can improve your credit over time!
Establishes a Line of Credit
If you don’t have any credit built up, financing a used car can help establish a line of credit! As long as you are proactive with your payments, your credit will build overtime.
Pay On Time, Every Time
Paying loans like mortgages, student loans, or car loans on time can increase your overall credit score greatly! We will work with you to find a car payment that fits your budget so it’s easy for you to make your car payment on time each month.
However, if you do not pay your car note on time, it can decrease your credit score.
Check Your Credit Score
When you apply for an auto loan, we’ll go over your credit report with you to make sure everything is accurate. The Federal Trade Commission has found that 5% of consumers have mistakes on the credit reports that affect their overall credit score. You can contest errors that you may find on your credit score. It is important to make sure that your credit report is accurate, removing any errors can improve your overall score.
Are you planning on buying a used car within the next month or so? If so, here are a few things you should know before purchasing a used vehicle, especially if you have bad credit or no credit.
Your down payment is a very important part of the deal. Having a higher down payment not only helps keep your monthly payments affordable. It also usually gives you a larger selection of used cars, trucks or SUVs to choose from. Not to mention, your down payment lowers the total amount financed. So a larger down payment saves you on interest and finance charges. Quite simply, the larger the down payment, the more you save in the long run (your term). (more…)