Cars and Credit Education
When you are shopping for a car it is important to have a thorough understanding of how the credit process works. You may hear an advertisement for a particular car that offers a very low financing rate. Some car promotions even offer 0% financing which is, in effect, a free loan. What must be understood though is that the best interest rates … Keep Reading → offered by car dealers are only offered to people with the best credit. If you have new credit or any credit blemishes at all, you will not qualify for the best rate. The rates offered get progressively higher as credit scores get lower. If your credit is too low, you won’t be able to finance a car at any rate. Make sure you know your credit score before you attempt to finance a vehicle. This will give you a much better idea about what the true interest rate will be.
