Tips For Financing A Used Car in Ashland or Richmond, Virginia
Tips For Car Buyers Looking To Improve Their Credit
- Review your credit report closely. Contact the credit reporting agencies to have incorrect information removed.
- Buy a car or house. New loans reporting current payments are the fastest way to increase your credit score.
- Pay down your credit card balances. Keep balances at 40% of limit or less.
- Don't close unused cards. Make occasional purchases to keep the lender reporting you making on-time payments.
- Get a secured card. The best way to improve your credit is with new loans. New loans way heavier on your score so on-time payments will make big difference.
- Get a store or gas card. These cards allow you to use dollars that you are currently spending but get points for managing credit properly.
- Manage your trade lines. Every loan creates a trade line. To improve your credit you must have at least 5 trade lines.
- Always pay your bills on time. Late payments take you backward so make sure you manage your budget properly each month.
- Deal with collections, charge-offs, and liens. It's always better to deal with a negative situation before it affects your credit. If not make payment arrangements but ask that the lender report your payments are current.
- Plan your purchases. Don't borrow from multiple lenders at the same time. Opening a lot of new accounts all at once will lower your score.
Call our loan specialist to schedule an interview to review your current situation.
- Monday 9:00AM - 7:00PM
- Tuesday 9:00AM - 7:00PM
- Wednesday 9:00AM - 7:00PM
- Thursday 9:00AM - 7:00PM
- Friday 9:00AM - 7:00PM
- Saturday 9:00AM - 6:00PM
- Sunday Closed