Your credit score can make a huge difference in determining whether or not you can finance a vehicle, as well as in the specific rates that you will be charged. The better your credit score, the more likely a financial institution is to trust you with a loan.
However, credit scores can seem mysterious to many people, who do not know what comprises these seemingly magic numbers. Surprisingly, it's actually not that confusing.
The major factors that influence your credit score include:
Keep in mind that there are many misconceptions about what is not factored into your credit score. Your salary, marital status, employment history, and much more do not influence your score in the slightest.
Additionally, it's worth noting that you are federally entitled to three copies of your credit report - which reveal the data that influences your score - each year, through www.annualcreditreport.com.
For more information, feel free to contact us or stop by and visit anytime at Slingerland Chrysler Dodge Jeep Ram.