Luxury Auto Financing Tips: How to Raise Your Credit Score

If you’re looking to buy a car and don’t want to pay for it all at once, auto financing is a great option. This allows you to pay for the vehicle over time with affordable monthly payments. When applying for a loan, one of the areas lenders will look at is your credit score. And while a lower score won’t preclude you from getting a loan, it may increase the interest rate. Fortunately, there are things you can do to raise your score.

Check Your Credit Report

The first thing you should do when planning to finance is to check out your credit report. Your score may be better than you know. This also gives you the chance to spot any potential errors and have them fixed, and doing this could immediately boost your score.

Pay Off Your Debts

Another thing you could do to help your credit is to pay off your debt. If paying it all off isn’t feasible, focus on the smaller debts you have, including anything you might owe your credit card companies. Consolidating your debt may also be a good option.

Pay Your Bills on Time

One of the main reasons why people have low credit scores is because they are late with payments. If this is a problem for you, think about automating your payments so your bills get paid even if you forget about them.

Visit Lyon-Waugh Auto Group for Your Auto Financing Needs

While these tips can help you raise your score, you don’t have to wait to buy a car. Lyon-Waugh Auto Group will work with you to secure a loan regardless of your credit history. Get in touch with one of our dealerships in the Boston area to get the financing process started.

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