Credit Rebuilding Program at Honda of Jefferson City, MO
Good credit is crucial toward building a future, but sometimes you might experience setbacks that can tank your score. At Honda of Jefferson City, we’ll help you beef up your credit history when you buy your next car from us. To get started on our credit rebuilding program, just give us a call or fill out the form below. Then we’ll connect you with one of our financial experts!
Five Facts About Credit Scores Near Eldon, MO
1. More than 100 million consumers have a low or nonexistent credit score. Furthermore, about 16 percent of Americans have no credit score at all.
2. The impact of COVID-19 on businesses and workers has only made the national credit situation worse.
3. With a low credit score, it’s hard to get car loans, personal loans, and even insurance.
4. Many people face this dilemma. Only 20 percent of American consumers have an “excellent” credit score of 800 and above.
5. Young people especially need help rebuilding their credit due to thin credit history. Millennials make up 37 percent of subprime credit scores, according to Experian.
What Causes Credit Scores to Lower?
Your available credit affects your credit score. Most bureaus recommend spending below 30 percent of your available credit. However, we know that this isn’t always easy. In particular, emergencies and unavoidable expenses can impact your score significantly. That's why we’ll never reject you based on your credit score alone when you apply for a loan at Honda of Jefferson City. In fact, we’ll do more than find you the perfect auto loan; we’ll work with you to rebuild your credit score altogether.
Some Simple Steps to Rebuild Your Credit Near Fulton, MO
Fortunately, there are ways you can raise your credit to what’s considered a “good” credit score of 670 or higher. For instance, you can join one of Honda of Jefferson City’s Credit Rebuilding & First Time Buyer Programs. These programs involve making regular payments on one of our affordable auto loans to gradually bolster your credit score. Auto loans have much lower interest rates than most credit cards, so paying them off feels achievable. It’s that easy!
Reasons Why We Succeed with Our Credit Rebuilding Program
Unlike other dealerships in Missouri, we know how to create a positive customer experience with our credit rebuilding program at Honda of Jefferson City. Here’s how we do it:
Correct Bank Usage
Some dealerships don’t have strong relationships with good banks. With 27 lenders at the ready, we can find a loan to cover almost any credit situation, including no credit, no car credit, bankruptcy, repossession, etc.
Vast Bank Knowledge
Few dealerships know the bank programs inside and out. These bank programs are constantly changing, so we have an ongoing training program to keep our finance experts up to date with these changes. This program helps us ensure that we know the right bank for you.
Other dealerships will have you fill out a credit app and blindly send that information to the bank. At Honda of Jefferson City, we’ll conduct a thorough credit interview to ensure that we’re submitting correct information.
We maintain a pre-owned inventory of 150 to 250 vehicles, one-third of which can accommodate this type of loan. Not many dealerships in our area can say that.
Absorbing Bank Fees
Wanting to make a large profit, many dealerships pass bank fees of over $2,000 onto the customer either directly or by skipping vehicle reconditioning. We, on the other hand, recondition our vehicles before they reach the lot so that you won’t have to pay a dime.
While other dealerships are only focused on one sale, we designed our credit rebuilding program to carry you through several car purchases. Ultimately, we want your car loan to work for YOU.
Credit Rebuilding & First Time Buyer Programs Near Lake Ozark, MO
Although every loan and credit situation is different, our goal is to trade you out of your vehicle at the proper time to ensure that you're driving the most car at the lowest possible payment. We can't guarantee the future, but we'll strive to trade you out of a high interest loan within eight to 24 months. Whether you want more vehicle or lower payments, the charts below are an example of the progression from worst-case scenario to a bright future:
Schedule a Credit Rebuilding Appointment at Honda of Jefferson City
Ready to get started on the road to good credit? Call us up or fill out the online form to schedule your credit rebuilding appointment today!