Your credit score plays a large role in the auto loan process. The good news is that before you embark on the Mazda financing process, it is possible to raise your score. The team at Patrick Mazda goes over some things you can do.
Clear Your Debt
Now, for many people, this is a lot easier said than done. If you can’t get rid of all of your debt, start with the things – like credit cards – that have the highest interest rates. Another thing you may want to think about is consolidating your debt to limit your payments.
Check Your Credit Report
When was the last time you looked at your credit report? Have you ever done this? A lot of people realize after scrutinizing their report, that there are errors causing them to have a lower score. Finding these and fixing them could be a big help.
Automate Your Payments
Many people get into trouble with their credit because they miss payments. Every time you are late paying something, your credit score takes a hit. This is why you should automate your payments so money is taken out of your account without you having to remember to do it.
Buying a Car with a Low Credit Score
If you can’t wait to raise your credit score to buy a car, there are things you can do. First, consider looking for a co-signer. Someone with a good score can help you secure a loan and give you a more favorable interest rate. Putting up a big down payment is something else that can increase your chances of getting a loan.
MAZDA Financing at Patrick MAZDA
Regardless of your credit situation, our Mazda dealership in Auburn, MA, will work with you to get a loan. Contact us if you have any questions or concerns.
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