If you’re thinking about buying a new car, or a new used car, you may already know that your credit score is important. This is a factor that is considered when determining your loan options and interest rate. The better your credit score, the better the loan you can be approved for. You can also be approved for more money toward a new car, if you have better credit.
If you’re looking for a good deal on buying a new car, your credit is going to be important. Not everyone has the opportunity to repair their credit before a new vehicle purchase. Sometimes, your car just breaks down unexpectedly and you have to do what you have to do to get in a new one.
However, if you know you’re going to be buying a new car soon, or that you’re going to be in the market in the near future, you can start doing some things to repair or improve your credit score to get the best deal possible. There are even some changes and improvements you can make in a very short time that will make a big difference to your score, like paying down balances on credit cards.
Let’s take a look at prepping your credit for a new car purchase:
- Check your credit report for accuracies. Dispute anything that shouldn’t be on there.
- Pay out or pay down your credit card debts. A lower debt to credit ratio will improve your score.
- Negotiate or pay out judgments and debts to get them removed from your credit report.
- Be aware of your score and what types of interest rates you qualify for with that score.
If you’re in the market for a new car now, visit the salespeople at Reedman Toll Chevy. The finance department will be happy to help you get into a new car.