Jacksonville Auto Loan Credit Repair
Repairing your credit just got easier. If you have an auto loan then you are on your way to a better credit rating. Yes, you read that correctly. Our experts at Jacksonville Credit Repair Today will help you understand how using your auto loan can help improve your credit rating. You might be thinking that this is too easy t be true but we assure you that it is true. We help people do this every day and we can also show you how to do the same thing. Give us a call and let us show you how we can do this.
Using Your Car Loan to Improve Your Credit
We deal with two types of credit, installment and revolving credit. Car loans are generally installment credit. This means that after signing a contract, you will make monthly payments to repay a lump sum, plus the interest and fees associated with the loan in a specified amount of time. Revolving credit is like a credit card. This is a debt that can be rolled over every month. It’s a good thing to have both types of credit. Having both types of credit will prove to lenders that you are a reliable borrower. An auto loan accounts for approximately 10% of a credit score, which means it help to quickly boost your credit score.
The Right Auto Loan
You will need the right auto loan for your particular situation. The first thing you need to do is make sure that whoever your auto loan is with is reporting your payments to the credit bureaus. If they are not reporting you’re the payments that are made on-time to the credit bureaus then it won’t do much to improve your credit score. The right auto loan for improving your credit is one that reports to the agencies.
Managing Your Auto Loan
This is one of the most practical ways to boost your credit score, managing your car loan on-time. Here is how you can increase your credit score with your auto loan and save money at the same time.
- Make your payments on-time because being late incurs penalties and fees. Make extra payments when possible but you shouldn’t pay off the loan because then it won’t help your credit.
- Refinance your car loan if possible. This may help you get one with a lower interest rate, which will give you a lower monthly payment.
Benefits of Hiring Jacksonville Credit Repair Today
With our help, we’ll get you back on track by improving your credit score. We also equip you with the necessary tools to maintain your good credit score. What you gain from working with us is far more valuable than you can imagine right now. However, when you benefit from the services that we have provided to you, chances are that you’ll consider our services as invaluable. We help you get your life back! What are you waiting for? Call us to schedule your complimentary consultation today.