Consumer Car Buying Advice Blog

Advice from the AFSA Education Foundation offers ways you can maintain or boost your credit scores before applying for a bad credit auto loan

Our experience

If you’re going to need some form of terrible credit auto loans this year, now is the time to create a plan to manage your money and take charge of your FICO scores.

We have seen the results when you do after nearly twenty years of being involved in bad credit auto sales here at Auto Credit Express.

We also know a tote the note dealer won’t help your credit scores and we can explain the loan process (to help you avoid repossession).

Credit repair

We recently came across some advice from the AFSA Educational Foundation regarding tips you can follow to create a successful financial plan that help you manage your money, improve your credit rating and boost your credit scores.

Here’s what it had to say:

•    Keep track of your spending for at least one month to realize where your money is going. This exercise will help you identify unnecessary spending. Use your findings to create a realistic budget and review your budget monthly.

•    Pay yourself. Designate a fixed amount of money from each paycheck to automatically transfer into a savings account or 401k.

•    Collect change. This tried and true practice can provide you with a significant amount of money that you can deposit into a savings account or use to pay off balances.

•    Obtain a copy of your credit report at annualcreditreport.com and review it to know where you stand.

•    Comparison shop. In today’s economy, it is more important than ever to compare offers and allow extra time to make the best decision possible.

•    Take advantage of automatic bill pay for loan payments, utilities, etc. to avoid missed payments and late fees.

•    Make a commitment to pay more than the minimum payment on your credit cards if you cannot pay in full. Whether you pay an additional $5 or $50 each month, this strategy will help you pay off balances more quickly.

•    Take advantage of free online financial education resources such as www.afsaef.org, www.ftc.gov/consumer, and www.mymoney.gov.

As we see it

Remember that it’s never too late to start taking charge of your finances.

At Auto Credit Express we’ve helped thousands of people with poor credit finance a bad credit car and establish their auto credit through a network of dealers that specialize in horrible credit auto loans.

So if you’re serious about getting your car credit back on track, you can begin now by filling out our online auto loans application.

Tags: Bad Credit, Credit Repair, poor credit car loans

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