If you’re contemplating buying a car but aren’t sure if your credit scores warrant you getting a loan, it’s not too late to do something about it. Your credit scores play a big part in not only determining if you get a loan but also your interest rate and loan terms. If your scores are somewhat less than desirable, there are several things you can do to improve them.
The first thing to do is get a copy of your credit report to verify that everything on it is correct. If there are any errors, contact either the creditor or the credit reporting agency to have the error corrected. Once that’s settled, you can begin improving your scores.
- Always make payments on time.
- Try to pay off as many balances as possible.
- Consider paying off numerous high-interest credit cards with a low-interest loan.
- Do not apply for numerous credit cards all at once.
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