How Does My Credit Score Affect My Loan?

How Does My Credit Score Affect My Loan?

Let’s say your credit score is on the higher end. This, in turn, will allow the interest rate you end up receiving to be lower. In the event your score is lower, the interest rate will be higher. Knowing this, you’ll want to make sure your credit score is as high as possible before beginning the process of financing your next daily driver.

How to Improve Your Credit Score

Is your credit score lower than you would prefer it to be? If that’s the case, you’ll likely be pleased to learn that there are some things you can do to bring it back up. For starters, try to pay your bills in a timely manner. When you do, you’re showing that you can responsibly manage your finances. Similarly, it’s also a good idea to pay off all debts.

Is your credit card balance getting a little high? Try to get that down as well. Doing both of these proves that you can manage your credit. Do you have open credit cards that you no longer use? Don’t close them! When you keep these open, you add to your credit history and raise your available credit.

Come Enjoy a Personalized Approach to Automotive Financing

The folks who make up our finance department are as knowledgeable as they are friendly. You can look forward to having one of our attentive specialists at your disposal from start to finish! They will work closely with you to make sure you receive the information you need to pinpoint the payment plan that makes the most sense for your financial situation. Any questions? They’ll have you covered there as well.

We Have Resources for You to Use

Be sure to give yourself a head start on the entire process by taking advantage of the tools that we have provided for you online. Value Your Trade is one of these. It comes in handy when you plan on using your current ride as a trade-in.

The Payment Calculator helps you determine which of your top candidates comes with the monthly payment that’s best for you. Finally, remember to take a moment to fill out the secure Credit Application to put yourself on the road to loan pre-approval.

Let’s Begin Your Car-Buying Journey Together

Are you ready to find and finance the mode of transportation that will propel you down the streets of Harveys Lake, Wilkes-Barre, Dallas, and Tunkhannock, PA, for years to come? We’re all set to get everything started as soon as you’re ready! Pay us a visit or contact us here at Tunkhannock Ford today to take a few test drives.