- March 26, 2023
- Good Credit
- Posted by creativeauto
- Comments Off on Why Having Good Credit is Important When You Want to Buy a Car
Having good credit is important when you want to buy a car. A good credit score will help you qualify for a lower interest rate on your car loan, which can save you money over the life of the loan. It is recommended for starters that you know your credit score. You can visit the three major reporting agencies; Equifax, TransUnion, and Experian to check your FICO Scores.
There are a few things you can do to improve your credit score before you apply for a car loan:
- Pay your bills on time and in full each month.
- Keep your credit utilization low. This means using less than 30% of your available credit.
- Pay off old debts.
- Don’t close old credit accounts.
- Apply for new credit sparingly.
If you have bad credit, there are still options available to you when you want to buy a [...]
