Military men and women: Your FICO credit score makes all the difference when buying a car.
By Tom Kline, Controller, RK Auto Group (RK Buick, RK Chevrolet, RK Subaru, RK Scion, and RK Toyota)
When buying used cars or new cars, savvy military men and women know their FICO credit score. The FICO credit score was created to show whether a borrower can or will repay his debts on time. Your finance options are limited by a low FICO credit score, and enhanced (lower monthly payments with less going to interest) by a high auto loan credit score.
Military buyers, get off to a good start with your auto loan credit score.
At RK Auto Group, a Virginia car dealer, our proximity to a major naval base and commitment to service means we’ve had the pleasure of working with many military men and women. We advocate creating a strong credit background to ensure our military men and women a strong auto loan credit score. This helps to secure the best financing possible when they are buying used cars or new vans, trucks or SUVs.
How to get a strong auto credit score and maximize your financing opportunities when buying used cars or new cars.
Smart ways to improve your auto loan credit score:
- Repay car loans within four years to avoid making car payments on a car you may no longer be driving.
- Pay your monthly car note on time.
- Seek the best deal on a car loan – don’t base your decision solely on the monthly car payment.
- With good credit, you can get lower interest rates, sometimes as low as 0%. Ask for it!
- Choose a dealership with an expert finance department, especially if you have poor credit, so you can get the best interest rates possible.
Know your auto loan credit score to get a better interest rate and improve your financial future.
When buying used cars or new, a strong auto loan credit score ensures a lower interest rate, and helps build a strong financial future.
Tom Kline is Controller of RK Auto Group (RK Buick, RK Chevrolet, RK Subaru, RK Scion, and RK Toyota). RK Chevrolet is the recipient of Chevrolet Motor Division’s coveted Service Supremacy Award four years in a row. This is an award that fewer than 400 of the nation's 5,000 Chevrolet dealers have won. RK Auto Group has been included in the Ward’s Auto list of top 500 U.S. car dealers, and has received the prestigious "Genuine Leaders Award" for excellence in sales, service, and customer satisfaction. The dedication of each employee at RK Auto Group (RK Buick, RK Chevrolet, RK Subaru, RK Scion, and RK Toyota) has made these awards possible.