Tips to Improve Your Credit Score in Auburn ME
Your credit score is incredibly important when you’re looking to buy a vehicle, new or used, and as such it’s important for you to keep the score high when possible. That said, it’s easier said than done for some, and many might not know how to boost their score. Thankfully, we’re here to help! Continue reading to see some tips on how to boost your credit score!
1. Check the Average Interest Rates
One of the things we recommend you do before you buy is search for the latest average interest rates on auto loans to have a better understanding of your potential rates. You might be able to get a decent rate if your credit score isn’t below 650 or so, but the best rates will require a score of 700 or more. It’s important to know what your expected rate could be as it will affect your monthly payment as well as the maximum loan amount you’ll be offered.
2. Ge Pre-Approved for a Loan
The second thing we recommend is that you get pre-approved for a loan before you head to a dealership. You should talk to your bank and or credit union about a car loan and what you can expect for rates from them. Pre-approval will let you have a reliable source of money, giving you more options when it comes to vehicles to purchase and the knowledge that you can afford it.
3. Clean Up Your Credit Before Shopping
Finally, you should make sure you check your credit score and what your biggest hitters are on it. Pay off any past-due accounts, solve credit report errors, and do anything you can to raise it. You should also work to add positive information to your score to make sure that it has as much of a boost as possible. It’ll take time, but it’ll be worth if for auto loans and other financings in the future.
These are just a few of the many tips we have to offer you when it comes to improving your credit score. To learn more about financing and credit approval, or to take one of our vehicles for a test drive, contact us today!