Posted Tuesday, Apr 12, 2022
At CNY Drives, we guarantee that everyone drives away in one of our quality used vehicles. Even if your credit score is less than perfect, here are a few tips the others guys won’t tell you that may give you a little edge leading up to your purchase.
This may seem like a no-brainer, but in the months and weeks leading up to visiting a dealership, be sure to pay your bills on time. Any non-payment will affect your credit score. You wouldn’t want a silly cell phone bill to affect getting a new car, would you?
Buying a house, opening a credit card AND buying a car in the same few months? Congratulations! Just know that every time you open a new line of credit, your credit score will be affected. It’s best to limit these large inquiries around the time you’re buying a car so that your score is as high as possible. Scoop up a new car, then the new house a few months later.
There are three main credit bureaus: Equifax, Experian and TransUnion. Your credit score will most likely be slightly different on each of these, yet most dealerships will only run one report. It’s in your best interest to run your own credit reports and bring your scores to the dealership with you. This allows you to take control of your score and get the best interest rate possible.
It’s important that you understand at CNY Drives your credit score will NOT affect your ability to get a vehicle. Our banks are more concerned with the important factors like do you have income, do you have a stable place to live, and do you have a bank account or the willingness to open one. We believe everyone deserves a reliable used car and past mistakes should not keep you from accomplishing that. What we’ve provided is information on how to give your credit score a little boost which could help you lower your monthly payment.
If for some reason you weren’t able to do these things, no worries, you’re still approved at CNY Drives!