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Car and Truck Finance Credit Repair

Automobile Financing Credit Improvement

MINI of Clear Lake understands that financing an automobile in Houston can be difficult. Particularly, if by chance, you happen to have a bad credit profile.

Is it about time that you finance a new car? Are you trying to figure out how to increase your credit ranking for a car or truck loan? Unsurprisingly, your car lease or loan rate is determined by your credit status, history and score, which means rebuilding credit is a smart decision before setting out on a car-purchase journey. Credit repair may take some work. You will most certainly want to keep track of your score a number of months in advance prior to your auto finance application. Boosting your credit overnight is impossible. With some time, however, you can most certainly make great increases to a decent score. Let’s learn how this can help.

Your FICO Credit Score Summary

Banks and credit unions typically take FICO history and credit score into consideration when extending an offer. Auto lenders factor the loan eligibility of the borrower by auditing his or her credit rating.

To provide you with a score, credit unions review these following five factors:

  • Borrower’s Payment record
  • New Credit
  • Amounts owed
  • Length of borrower’s credit history
  • New credit data
  • Types of credit in use

Notwithstanding all this great info, the process of credit scoring can still be murky at best. Because of the complexity of this process, banks may use several industry-specific factors to decide if you’re a low-risk borrower. Don’t forget, your credit score is an important indicating factor that determines if you’re capable of paying your regular payments. That means that you should learn how to increase your credit before applying for car or truck financing.

Reasons to Restore One’s Credit History

Car and truck buyers with superior credit easily qualify for vehicle loans with low interest rates or even zero percent financing. A great score also offers you an opportunity to negotiate during your auto loan or lease. Contrarily, those with low credit, however, typically are ineligible for a zero interest rate, small or zero-down payments, and low-interest loans. In short, you may have to overpay when you have a weak credit history.

Useful Advice for Increasing your Credit Score:

A bad credit rank is bad news for any automobile shopper. But it can easily be improved by adhering to these simple steps:

  • Closely monitor your credit score.
    • Pay close attention to your credit report in the months leading up to your vehicle financing.
  • Scan for red-flag items on your report. If possible, fix them.
  • On-time payments are key.
  • Every time you don’t make an account payment, your credit history gets a negative hit. By avoiding it, you can restore your credit score.
  • Use calendars to schedule bill payments.
  • Avoid credit card balance transfers.
  • Be extra careful while managing your card balance if you’ve bad credit.
  • If possible, try to clear your existing debt before taking on an auto loan or lease.
  • Track your report and correct any errors.
    • Sign up for free reports from major credit bureaus: Equifax, Experian, and TransUnion. Free Credit Report
  • File dispute if you find any.
  • Be sure your report looks impeccably clean.
  • Don’t apply for other credit.
    • Multiple credit card applications over a short period of time negatively impact your score and lower it. Avoid such actions if you’re fixing a low credit score.

Houston Auto Financing at MINI of Clear Lake

Auto shopping can be an exciting experience and involves a number of steps to be most successful. For the smoothest financing experience, fix your poor credit first. A higher score will help you get a better automotive financing offer with more room to negotiate. Improving your credit score won’t happen quickly; so, give yourself ample time and track your credit for several months prior to going forward with buying a new car or truck .

Automobile Financing Credit Improvement | MINI of Clear Lake

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Google Aug 21, 2019
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Google Aug 19, 2019
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Google Aug 14, 2019

Very helpful friendly staff, this 2020 Mini is our third one since 2013, there were no Mini available anywhere with the options my wife wanted so they special ordered one so my wife got exactly what she wanted. We always go back to Mini of Clear Lake, they make the process go smooth and simple, from sales, finance, service. Thanks Joe, Will, Torie, David, Scott.

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Edmunds Jul 25, 2019

I called for new tires and spoke to Victor. He ordered them for the same day and was able to accommodate me for the next morning. As soon as I walked in, I was greeted by name and he had everything ready to go. I had my newborn with me, so he did everything he could to get me in and out as soon as possible. I was very happy with the service. Everyone at the dealership was nice as I waited. I will definitely return to this service center.

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Edmunds Jul 24, 2019

Top notch service from sales to maintenance service. Everyone always goes above and beyond to accommodate you and make you feel welcome. Very professional and friendly staff. Love my car!

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300 Gulf Fwy S • League City, TX 77573

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MINI of Clear Lake

300 Gulf Fwy S League City, TX

Phone: (281) 557-7177


Phone: (888) 214-3247

300 Gulf Fwy S League City, TX


Phone: (281) 557-7177

300 Gulf Fwy S League City, TX


Phone: (281) 557-7199

300 Gulf Fwy S League City, TX
29.5001716 -95.1111711
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MINI of Clear Lake
MINI of Clear Lake
300 Gulf Fwy S
League City, TX, 77573 United States
(281) 557-7177
MINI of Clear Lake 29.5001716, -95.1111711.