There are not too many people who can come in with full payment for vehicles, not even used cars. For one, few people feel comfortable carrying that amount of currency nowadays. Secondly, we live in a world where having good credit is even more important than having readily available cash. One of the best places to start establishing decent credit is at a used car dealership.
Credit is borrowing funds for a good or service with the intent of paying back in the future. The reliability of your credit depends on your ability to pay back the funds in a timely manner. There are several types of credit available and one of them is called installment credit. Installment credit is where you agree to pay for merchandise, in this case a new vehicle, in set monthly payments for a certain block of time.
Establishing credit for the first time can be a catch-22. In order to obtain credit, creditors want you to have a history; in order to get a credit history, you need to obtain credit. Many financial counselors recommend that you start small, borrowing an amount that you can handle. What makes buying used cars from our dealership so great is that we work with first-time buyers. We work with a variety of lenders to make sure that we can our customers the best deal possible.
Absolutely. The best thing about credit is that it can always be improved. Making payments on time is one of the best ways to make sure that your credit rating stays high. Even on the rare occasions where you manage to miss a payment on the same day, many creditors have a grace period where consumers can make payments without it affecting their credit. In addition, some creditors will even waive one fee per year upon request.
There are many ways to obtain and maintain a good credit rating. One of the best ways is waiting for your at our dealership, where there are an array of used cars to choose from.
