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Car Financing Tips Fix Your Credit Score Debt To Income Fix Your Credit | Blue Q |
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Ok, so you are excited to hop into your shiny new car and now they are asking for
some money! Now it gets funĄ right? Yeah, we all know that buying a vehicle can
sometimes be an emotionally driven impulse. Getting the facts on financing before
you start your shopping will help you get to the right vehicle at the right price.
A Lender will look at your Credit Score and Debt to Income when determining whether
to loan you the money, the rate to give you, and the term of the loan. Be sure to
investigate different financing options... for example, you might find that
leasing will produce a lower payment and keep you from getting "buried"
in debt.
Tip: See our Special Finance Department if you are a first time buyer with
little to no credit or struggling with financial problems such as Bankruptcies,
Divorce, Late Payments or Default Mortgages.
Fix Your Credit Score
Not sure if you have the credit power needed to get you into your dream vehicle?
There are a few different levels that your credit score can take you. To be at the
top you have to be in the mid 700's or higher. If you have a credit score below
615-630 then you most likely are considered a Subprime Borrower. Learn how to fix your credit free today with fixmyQredit.com!
Debt to Income
When determining loan applications, Lenders will also look at your Debt to Income
Ratio. For example, if you are making $5,000 a month, bringing home $3,300 and have
$3,000 in bills & expenses, you probably won't be approved for a $600 per month
payment.
Bankruptcies, Divorce, Late Payments, Default Mortgages & First Time Buyers
"We realize that good people with bad credit or no credit are still good people."
Our aim is to give you the resources you need to get back on track. There are many
online resources for you to check your credit score. This is how most Lenders will
measure you up when determining whether to loan you the money, the rate to give
you, and the term of the loan. There are a few standard scores that they will look
into. They are, in no particular order, Equifax, Experian and TransUnion.
We are available for consulting by phone or in person.
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