Having a low credit score can be tough to come back from, but there are ways to rebuild your credit if you know the right people. Getting an auto loan is the perfect way to start rebuilding your credit, and Auto Credit Express is the perfect partner to help you along the way.
How an Auto Loan Helps Rebuild Your Credit
If you have damaged credit, it can be a struggle trying to find a lender willing to work with you. Our team has been helping people with bad credit get auto loans for almost 20 years.
- Establish a Line of Credit.
To re-establish your credit standing, you need to obtain a line of credit and show that you can handle it responsibly. A car loan is a type of installment credit, which you agree to pay back in set increments over an agreed upon period of time.
- Make Timely Payments.
It's crucial that you make your auto loan payments on time, every time, because timely payments are the biggest determinant to your credit score. We work with dealers that report to the credit bureaus, so you are sure to see your scores improve if you're making the payments. And remember, if anything ever comes up that could disrupt your repayment plan, make sure to discuss it with your loan provider. They may be able to work with you so you can avoid any credit backslides.
- Stay Committed.
Re-establishing a good credit score can seem like an uphill battle, but it's possible as long as you stay committed to your plan. And if you've improved your score over the span of the loan, you can also refinance. Any improvement to your interest rate can make a big difference in the long run.
Let Us Help You
The further a negative credit event is in the past, the less it impacts your credit score. Get started on your path to a better credit score by teaming up with Auto Credit Express. You can start right now by filling out our safe and secure online application.