Nissan World of Denville Blog

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Denville Nissan’s Auto Credit Repair Guide

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Nobody’s perfect. You may work hard and pay your bills, but at some time in the past you had some blemishes to your credit history. Here at Nissan World of Denville, your preferred Nissan dealership in Denville, New Jersey, we understand that many of our customers have less than perfect credit. Our goal is to help customers with low credit scores get the financing they need to purchase a new or pre-owned vehicle from our Denville Nissan dealership.

bad-credit-repair

Repairing your credit will help you obtain better financing rates that will save you money. That’s why it’s important that you take control of your credit by being proactive. Here are some tips for credit repair and improving your credit score:

Check Your Credit Report

Stay on top of your credit history by getting a free copy of your credit report. The law requires the three major credit reporting agencies, Equifax, Experian, and TransUnion provide you with a free credit report. Go over each report carefully and make sure there are no errors.

Know Your Credit Score

Your credit score is a number called a FICO® Score. The three major credit reporting agencies mentioned previously use a variety of factors to arrive at your credit score. Scores typically range from 300 to 850. A high FICO Score means good credit while a low score may mean that you have credit issues worth investigating and improving.

Be Wary Of Companies Claiming They Can “Fix” Your Credit

There are many companies out there who prey on people with bad credit. They promise to fix your credit for a fee. Be very careful of these companies, sometimes called “credit clinics.” Many of them will simply do things you can do yourself for free.

Create Payment Reminders

Making on-time payments is one of the biggest things you can do to improve and maintain your credit rating. Banks sometimes offer payment reminders on their websites. You can also enroll to have payments taken out of your account automatically. However, it’s also a good idea to stay on top of your payments. Consider using a free bill reminder app on your smartphone.

Reduce Your Debt And Manage Your Credit Cards

The first thing you can do is stop using credit cards whenever possible. Go through your credit report and find out which credit cards have the highest interest rates. Review your credit card statements online and come up with a plan to pay down the highest-interest cards first. It’s better to pay off debt rather than bouncing it around from credit card to credit card. Also, don’t close unused credit cards or open new ones to increase your available credit.

Avoid Collection Agencies

Collection agency accounts stay on your credit report for seven years. Even if you pay them off in full, they still raise a red flag and will lower your credit score.

Contact Your Creditors

If you are having problems paying your creditors, let them know. You may be able to work something out. Contacting your creditors lets them know that you are making an effort to pay off your debts responsibly.

Buy A Car

Another thing to consider is purchasing a new car. While this does add to your debt, making regular payments that are reported to credit agencies will, over time, help improve your score. If you can afford it, you can double up on monthly payments to pay down the loan principal faster. Car loans are in another category of consumer debt that is different from credit cards or mortgages.

customer-and-salesman

Choose A Reputable Car Dealership

When considering a new or used car purchase, you should be careful of car dealerships that offer “buy here pay here” financing. Some dealerships also call this “carrying our own paper,” or “we are the bank.” It’s better to do business with a reputable car dealership like Nissan World of Denville. After all, we have been serving the automotive needs of Morris County for more than 20 years.

Our finance specialists are trained to give you a range of options because of our relationship with various banking and lending institutions. We are committed to exceeding your expectations and providing you with a personalized finance program at the most competitive rate.

Even if your credit rating is less than perfect, we will work to finance you with a payment that you can afford. To start the process, you can fill out our simple online credit application and get pre-approved before you arrive at our dealership.

We invite you to visit our Denville Nissan dealership at 3057 New Jersey 10, Denville, NJ 07834 and check our large inventory of new 2015 Nissans. Take advantage of special financing, dealer markdowns, and manufacturer incentives. Save even more with our certified pre-owned vehicles. To contact our Sales Department, please call 877-726-1182. For Service, call 877-740-9607.

 

Sources:

http://www.myfico.com/crediteducation/improveyourscore.aspx

http://www.myfico.com/

https://www.annualcreditreport.com/index.action

http://blog.readyforzero.com/how-do-car-loans-affect-your-credit-score/

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