Before applying for pre-owned auto financing, it helps to know your credit score — and if it’s on the lower side, how to improve it. By paying bills on time, limiting your credit card usage, and avoiding starting new credit lines, you can raise your credit score before you make a big auto purchase. At Fields Pre-Owned St. Augustine, we have the expertise you need to raise your credit before you finance.
Make Payments on Time
The best way to keep your credit score high is to pay all of your bills on time. Late or missed payments will put a serious mark on your credit report that can last for a while. If you have any outstanding payments, make sure you pay them off before applying for auto financing.
Limit Credit Card Usage
Credit cards are a convenient way to pay for things, but overusing them will significantly harm your credit score. It’s recommended to restrict credit card usage to 30% of your limit. Occasional credit card use is okay, but overspending signals to credit bureaus that you aren’t the most responsible borrower.
Avoid New Accounts
When you’re saving up to finance a vehicle, you should avoid opening any new accounts or applying for credit elsewhere. Opening a new line of credit, be it a credit card or a loan, will temporarily lower your credit score. That demerit can take a while to go away, making it harder to find the best terms.
Compare Pre-Owned Auto Financing Options in St. Augustine, FL
If you’re ready to apply for pre-owned auto financing, we’re ready to get you started. Contact Fields Pre-Owned St. Augustine today to inquire about financing or get an estimate based on your credit score.
