The Importance of Credit in the Car Buying Process

You will find many desirable new and used cars for sale at Ashe County Ford Inc. Before you can take one home with you, however, you must figure out how you will pay for it first. While some car buyers may have the total amount up-front, most shoppers choose to get an auto loan to cover the cost and pay off their purchase over an extended period—and that is where your credit score comes into play.

How Does Your Credit Score Affect Your Car Buying Experience?

Your credit score is essentially a snapshot of your financial background. It takes your payment history, accumulated debt, and other factors into account and designates a three-digit number that identifies your risk as a borrower. In other words, those with no credit or low credit may find it more difficult to negotiate with a lender. Of course, some organizations—such as a local bank—will still offer a car loan to individuals with a lower rating. In exchange, the interest rate may be higher. Meanwhile, those who have a positive scorecard will have an easier time borrowing money to pay off their new vehicle.

Reach Out to Ashe County Ford Inc. Ford Financial Officers for More Help

Even if you have a poor credit score, you can expect the Ashe County Ford Inc. finance center to work with you so that you can buy your first or next car with ease. In fact, paying off an auto loan in a timely manner is a good way to mend your financial record. So, whether you have a high or low credit score, do not hesitate to reach out to our experts! You are always welcome at our dealership in West Jefferson, North Carolina, for assistance with your auto needs.

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