Raising your credit score can have a great impact on your likelihood of getting the most favorable RAM finance terms on your next auto loan. It can result in lower monthly car payments, a lower interest rate, and the ability to get approved for a higher loan amount for your vehicle purchase. The experts at Fields Chrysler Jeep® Dodge RAM Asheville want to make the process easy and painless. Here are a few tips that you can follow to help boost your credit score to get better RAM financing terms:
Pay Down Existing Debt
One of the best steps that you can take to increase your credit score is to pay down any existing debt and make sure that you’re making your payments on time to show lenders that you’re a responsible lender.
Your credit utilization has the second highest impact on your credit score behind your payment history, so it’s important that you’re paying down your debt so that the credit bureaus can see that you’re not using as much of your available credit and not leaving a balance on your revolving credit accounts.
Credit card debt should be your top priority as it often comes with higher interest rates compared to mortgages or student loans
Increase Available Credit Lines
Another step that you can take to raise your credit score is to increase the available credit lines you have to decrease your credit utilization rate against your available credit. This can be done by opening a new credit card or requesting a credit line increase on any existing credit cards that you may have.
Learn More About RAM Financing in Asheville, NC
If you’re interested in learning more about how to raise your credit score for your next auto loan, visit us at Fields Chrysler Jeep Dodge RAM Asheville and speak with our finance department for more information. Get behind the wheel of a rugged RAM truck today!