What is your credit score? And how can Mark's Auto Sales help?

Your credit score is an important decision maker for a lender, when deciding if they want to do business with you. Mark's Auto Sales can be your stepping stone to better credit.

Your credit score, also known as FICO rating, is a calculation reflecting your likelihood of paying off a loan on time. There are three credit bureaus that calculate your credit scores: Experian, Equifax and Trans Union. They derive your credit score from: how much credit you have already been given and by what companies, how much of that credit you have used, and your payment history.

Your credit score changes
over time when companies that report to the credit bureau. When you pay down your credit cards and make the payments on time, your credit score will improve. Your credit score will also improve when you make your full payments on time for your automotive loan to Mark’s Auto Sales and META Financial Services. Mark’s Auto Sales has been reporting the credit bureaus for ten years and META Financial has been reporting for the past five years. In this time there have been many success stories of our customers who have been able to improve their credit ratings so that they can purchase their next car with bank financing, and some have even been able to buy a home. Unlike other dealerships that offer buy here pay here financing, Mark’s Auto Sales reports to the credit bureau when you make your payment on time, and can therefore be your stepping stone to good credit.

While banks and lenders are not extending as much credit or new loans as in the past, taking care of your credit score will give these same bankers and lenders more confidence in giving you the loan you need. Here are a couple tips to help you improve your credit score:
• Make your payments on time, late payments and late fees are reported to the bureaus
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• Keep your balances low, pay down credit cards and outstanding debt
• Beware of credit card offers, there are a lot of promotions to get you to sign up for a new card. However if you have already had a lot of credit extended to you, a lender may not want to give you more, because if you use all the credit you have available, it will likely be too difficult to keep up with payments
• Check your credit scores a couple times a year. Many online services are available to check, and will give you to opportunity to make sure that nothing was reported incorrectly.

Want to learn more about how Mark's Auto Sales can help you get back your credit worthiness with your next auto loan? Contact us directly at: http://www.marksautosales.com/locations.php?te_class=locations&te_mode=view&te_key=2