How To Improve Your Credit And Secure Your Dream Car
Fri, 23 Mar 2018
Despite prevailing assumptions, it’s still entirely possible for someone with bad credit to drive off a car lot in their very own luxury car. It will take some shrewd planning – starting with finding the right used luxury car dealer, and then taking steps towards building credit and using existing equity – but it’s certainly doable.
As an obvious first step, visit us here at Village Luxury Cars to start some preliminary talks about the nature of your credit, the type of car you’re aspiring to own, as well as other financial minutiae; offering market-leading pricing and programs tailored to any credit situation, we’re your finest option for owning a luxury vehicle. In the meantime, here are a few ways that you can improve your credit and use your existing equity to ensure that you get behind the wheel of your dream car.
Save For A Larger Down Payment
Obviously a great way to offset the interest and fees associated with a car loan is to save for a larger down payment. This might require you selling other things you own which are no longer of useful value, or it might simply mean squirreling away a set amount of money each month for a year or two. If you have a loved one from whom you can borrow money, one who’s willing to give you a better interest rate (or no interest rate at all), you could go that route, though for many this isn’t an option. Think of it as an investment in the coming years: the more you can save for a down payment, the less your monthly payments will be, freeing up cash flow for other purposes.
Add Positive Credit To Your Credit Card
Reducing your balance and making continued payments to your credit cards in order to keep them low is one of the standard ways of achieving good credit. But it can be easier said than done. If you have multiple cards with high balances, it could be a smart move to consolidate your debts to a single line of credit. If you are able to pay down debts on a card, keep that card open and make small transactions with it, being sure to immediately pay those off – the longevity of the card, coupled with continued, quick payments will go a long way towards repairing your credit score.
Village Financing Options
Of course, here at Village Luxury Cars we’ll assess your credit situation, help you decipher your credit report and help you finance a used luxury car within your budget, one that you can be immensely proud to drive. And if financing and auto loans aren’t the way you want to go, our talented team in the finance department can work out a lease program with you.
Trade In Options
Finally, if you have a car already, we offer top dollar on trade in options , using cutting edge software to determine the highest market value for your vehicle trade in. If the car is paid off, the entire value of the vehicle will be trade equity (if not, we’ll help you determine the equity) and can be very helpful in securing you a loan on your new used luxury car. If you want to get a head start on determining the value of your current vehicle, you can visit our site, or head over to the Canadian Black Book site.
The main takeaway from this article is that, despite your credit situation, we at Village Luxury Cars are determined to find you a loan that will work for you. Everyone should have the opportunity to feel the cool wind through their open window as they drive down the highway in their dream car – we’re here to make that happen.
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