Steps to Rebuild Your Credit Score


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Credit is a number that makes the world go round for so many and that’s why when struggling with bad credit, it can be a tough world to deal with.  So much of life is structure around credit score and that makes it important to do everything in your power to have good credit and maintain it.  If you’re struggling with bad credit, it’s important to know that it is never too late to start to rebuild and get yourself back in good standing.  Here is some tips on how to rebuild your credit.

First, know your credit score.  That means you’ll be needing to have your credit report, which is something you can do using such tools as AnnualCreditReport.com.  This gives you access to the reports by the three major bureaus: Equifax, Experian, and TransUnion.  When you have the reports that is when it is time to do some homework.  Examine each one and look out for errors.  Highlight each one and start the process on getting those removed.  Errors that appear on your credit report can be a major hassle to get resolved, but the pay-off is worth the trouble.

Second, get caught up on your payments.  Your ability to pay your bills regularly and on-time has a major impact on your credit score.  That is why it is important to get your payments caught up.  If you’re behind, all the hard work you’re doing to rebuild your credit may be in jeopardy.  The best way to do this is to speak with the creditors and let them know what is happening in your life that has caused you to be behind.  Work with them in establishing a way to get caught-up.

The next step is keep making those payments on time.  Once you’ve put yourself in good standing and have a plan to repay your loans, don’t fall behind.  You will look good to the bureaus if you’re paying your bills on time.  Payment history is an important facet of your credit score and doing anything and everything you can to show this to be in good standing will be a fast and efficient way to rebuilding credit.

If you have bad credit or low credit and need to get a new or used vehicle, be sure to contact us at  Approved Loan Store.  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Pitfalls to Avoid When Car Shopping With Bad Credit

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Life is already tough enough for people looking to purchase a vehicle with a bad credit.  They’re options are more limited than the average buyer and it can really weigh on people when they go car shopping.  It is easy for an individual suffering from bad credit to just feel the weight of the world stacked against them.  There is hope for this person.  There is plenty that this person can do to help make the car buying experience easier and better if only by avoid a few common pitfalls.

First, don’t just randomly buy a car.  As weird as that sounds, like someone walking around a car lot with a blindfold on, what it really means is not to accept that this is the only vehicle possible.  Think about the vehicles you have available for you.  Research the vehicle(s) that have been made available for you and see which the best value is truly.  Ask questions, take it for a test drive, do the usual business people are supposed to do when auto shopping.  Just because you have bad credit doesn’t mean to ignore the process.

Look for a down payment option.  Down payments are very important for people with bad credit.  The more you are able to put down towards a vehicle, the better off you will be as far as options are.  While it isn’t always true, it is something to be explored.  Make sure you know how much money you can possibly bring with you as a down payment.  Don’t put yourself in a position where it’ll hurt your ability to pay your monthly loan on time.  Know your finances and see what can be sparred for a down payment.

Using these tips and will be able to help you when you’re fighting to get your credit back.  There’s plenty more, but these two will help you out when it comes time to get shopping.  If you need any more help, contact us at  Approved Loan Store.  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Good Credit Habits to Start Practicing

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People struggle with credit scores.  It is not something that is common knowledge and it’s not like it is a focus in our education system.  For something as impactful as credit can be, you’d think there would be.  That leaves it up to the individual to educate themselves on what to do to improve their credit should life occur and you find yourself struck with the ‘bad credit’ moniker.  In the event that you either would like to avoid having bad credit or have gotten yourself back in good standing, here is a few helpful credit habits to get into to ensure you continue having good credit.

  • Pay On Time:

Few things look better on credit reports than those that pay their bills on time.  From cell phone bills to car loan bills; each one that gets a regularly monthly bill needs to show that you are buying it on time.  Do what you can to organize your life around being diligent about buying these bills

Double-check the due dates.  If you schedule an auto-pay, ensure that it goes through every month.  Anything that can be done to remind yourself that a payment went through on time will be for the better, no matter how annoying it may feel at the time.  The benefit is worth the annoyance.

  • Guard Your Credit Report:

Knowing what is on your credit score is vital in this day and age.  It is important to know if what is being reported on there is fraudulent.  You’d be surprised how many people have errors on their reports that can be resolved and don’t do anything about it.  The usual reason is because they don’t know.  Take full advantage of your free credit reports and take the time to go through it.  By reducing errors and removing them, it can be a major boon to your credit score overall.

  • Deal With Issues ASAP:

Missed a payment?  Got an error on your credit report?  Don’t delay, get them fixed as soon as possible.  If a situation arises that will have a massive impact on your ability to pay monthly bills, such as job loss or a medical issue, make sure to speak with creditors.  The sooner they know and can start working with you to help your situation and make life easier, the better.  Don’t let yourself get dragged down when there are ways to get help.

If you have bad credit or low credit and need to get a new or used vehicle, be sure to contact us at  Approved Loan Store.  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

 

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

How High Should Your Credit Score Be for a Car Loan?


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Do you know your Credit Score?  Even for those who are able to answer that question without looking it up have another problem.  We hear all the time about ‘good’ credit and ‘bad’ credit scores but it’s never mentioned what credit score is needed to get yourself a car loan.

A major issue with determining what is the ideal score for obtaining something like a car loan is that the factors differ depending on where you go looking.  Credit.com quotes a chief operating officer at Prestige Financial, “There is not a minimum score I could say.  There are many lenders, many different opportunities, and there are many factors that go into an auto loan other than your credit score.”

What is these other factors that he mentioned?  Besides credit score, it is also debt-to-income ration, employment history, and how well an individual has paid their loan in the past.  In the case of an auto loan, have you had one in the past and if so, how on time were your payments?

Buyers with low credit scores have been in luck in the most recent years.  The lending restrictions has eased up since the recession.  The average score for a new car buyer in the last quarter of 2015 was 711.  The same time frame in 2014, the credit score was 712.  The average has been steadily decreasing since it hit a peak in 2009, right after the recession hit.

The average credit score for a used car buyer is following the same decline.  Its peak during the recession was at a number of 659 and has dropped to 649 since then.

That still doesn’t do a good job of answering the question: What should your credit score be?  Using the average listed for both new and used is a good metric.  If you’re a ways away from the average, then it is time to start working on getting your credit score turned around.  It’s worth the effort to get it fixed so you can open up opportunities for a better deal on a car loan.

If you have bad credit or low credit and need to get a new or used vehicle, be sure to contact us at  Approved Loan Store.  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of (Stuart Miles) at FreeDigitalPhotos.net

Auto Sales in 2015 Hit Record High as Auto Loans Become Easier to Obtain

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When the recession hit, the auto world was one of the industries hit the hardest.  The market it had relied on was no longer spending money and they in turn were about to go belly up.  With a controversial loan, the industry was able to keep going to 2015, where it manage to set a record sales year.  2015 may be the year where it finally shows the auto industry is back.

For years, people avoided buying a new or used car.  They simply couldn’t afford it with due to elements of the recession.  For many, it was also because lenders had cut off access to subprime loans.  Those with bad credit or low credit were unable to find car loans even when they needed it.  As the years went on and the auto industry slowly recovered, that policy of being harder on offering loans started to go away and the lenders were being more open to loaning.

The employment rate is at the highest it has been in years and gas is at the lowest it has been since the recession first hit.  It’s no wonder that people are finally getting out to purchasing vehicle.  For some, it had finally hit the breaking point.  They had been holding off and hoping that the current vehicle they owned would last through the hard time.  Many drivers were avoiding trading in a used vehicle being unable to afford it.  They sat on their current vehicle for longer than recommended and are now at a point where they simply need to get a new or used vehicle.

If you’re one of those drivers, who has held out for as long as they could or if you have bad credit or low credit and need to get a new or used vehicle, be sure to contact us at  Approved Loan Store.  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Get Approved for an Auto Loan With Your Tax Refund

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It’s the same struggle every year.  Taxes are done, and done early, and the tax refund has finally arrived.  Now, what to do with it?  We’re here to make that decision easy; use it to get an auto loan!

We here at Approved Loan Store work hard everyday to help people with bad and poor credit to get approved for auto loans.  This year, we’re reaching out to let people know that If you have a job and your tax refund, we can get you a car loan.

YOUR TAX REFUND + A JOB = GUARANTEED CAR LOAN APPROVAL!

Click right here to Start Your Application Right Now!  Don’t worry about that credit score.  Fill out the short application and get the process started ASAP!

Don’t worry about that credit score.  All you need to do is head on over to this page and fill out our short online application.  Once it’s been completed, a representative will get in touch with you to get the ball rolling.

Give us a call at 877-217-2217 to speak to one of our representatives.  If you’d like to learn more about Approved Loan Store, head on over to our website where you can view our customer testimonials and view our 5-Star reviews on Facebook.

Submit your info below NOW to get started on your GUARANTEED APPROVED CAR LOAN!!!

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Car Buying Tips for Bad Credit Shoppers

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You have bad credit and need to get a car.  That’s never a good place to find yourself in, but that doesn’t mean there isn’t something you can do.  Here is some advice on what you can do to help yourself out when it comes to getting an auto loan with bad credit.

First, know your credit score.  This one is very important for so many reasons.  First, you have bad credit, but just how bad is it?  Do you know your score?  This is something you should always know.  Get your credit report from the three credit agencies and make sure that you know just how bad the score in the reports is.

Second, consider a large down payment.  When getting an auto loan, a good way to counter balance bad credit is to get more money to put down.  It is a way to show the lenders that you have the ability to put together money and are showing you’ll be making sure to hit those monthly payments.  If you can put together a larger down payment, make sure you do it.

Lastly, accept that with bad credit, your car choices are limited.  We all want that nice new sports car that was shown on this or that movie.  It would be nice to cruise down the street in our dream vehicle, but that is not the option yet.  For the time being, practically outweighs desire.  Understand that when auto shopping with bad credit, you’re going to want to stick with an older car that will likely be cheaper.  Make sure to assess it to see if it matches your needs for size and capability.  You may already realize that, but it is something that needs to be stated.

Are you ready to get into a great new or used car, truck, or minivan? Now is the time to buy, and Approved Loan Store can help you find the car you want at terms you can afford, even if you have credit problems!  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

How to Use Your 2016 Tax Refund as a Down Payment

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The deadline for filing taxes is still a ways out, but that doesn’t mean people haven’t already started to get that refund check in the mail.  For those who do received a refund check, this brings up the yearly question; what do you do with that money?  If you’re one of those people who is looking for ideas, have you thought about using it as a down payment on a new vehicle?

Many people, due to recent economic trends, have been sitting on cars on the verge of breaking down due to being unable to afford a new one.  If you’re one of these people, and especially one that has bad credit, a larger down payment can really go a long way in helping easing the pain of a car purchase.

People with challenged credit can find that a large down payment can help with the buying process.  Edmunds spoke with a sales manager at a dealership who had this to say about people using their tax refund as down payment.  “A $3,000 (the average amount of a refund) down payment does a number of things to help a customer with challenged credit.  First, it shows the lender how serious the buyer is about taking on a loan.  It also reduces the likelihood of the buyer being upside-down during the life of the loan.”  He also adds that having a smaller loan amount leads to smaller payments and leads to less of a burden on the monthly payments someone has to make.

Be mindful of using your tax refund in this method.  It can really go a long way in helping to deal with the necessity of purchasing a new or used vehicle.  If you have your tax refund and need help in getting an auto loan, click here to go to our application page on Approved Loan Store’s website.  Fill it out and we’ll contact you so we can get the process started.

Getting an Auto Loan After a Repossession – It’s Possible!

ID-10032265After going through an auto repossession, is it impossible to get approved for an auto loan? The answer is that, surprisingly, it is possible, and with the current availability of auto loans, it is probable that someone could get approved.

Here are a few tips to give you the best possible chance at getting approved before even walking through the door.

  1. Check Your Credit Report – A repossession won’t be a deal breaker if the rest of your credit history is in order. Maybe you made a few mistakes in the past or went through a job loss or medical emergency, and you missed a few payments. Maybe the repossession is one mistake in an otherwise decent credit history. It is important to get a copy of your credit report and your FICO score so you know where you stand. A repossession will put a dent in your credit score, but if you have otherwise kept up with your other loan or credit card payments, your credit score might not be as bad as you think.
  2. Bring Money and Your Documents – If you expect to get an auto loan that day, you will need a valid driver’s license, recent pay stubs, utility bill that proves residency (electric, not cell phone), and either a W2 from the previous year or last year’s federal tax return. Also, the chances of getting approved are improved if you bring money to put down, so bring whatever you can reasonably afford.
  3. Keep An Open Mind – Is it possible to get the car of your dreams, even if you have gone through a repossession? It is possible for some people under specific circumstances, but you might find a better deal if you go in with an open mind. Maybe instead of the new car you have been eyeing, you decide to go for a nice pre-owned vehicle and get a better rate or lower monthly payments.

Are you ready to get into a great new or used car, truck, or minivan? Now is the time to buy, and Approved Loan Store can help you find the car you want at terms you can afford, even if you have credit problems!  Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of winnond / FreeDigitalPhotos.net

The Best Use of Your Tax Refund (Hint: It’s Not a Vacation!)

ID-10094956Tax season is here again, and as people across the country file their tax returns, they are already making plans for how to spend their tax refunds.

With summer quickly approaching, many families will probably use their refund towards a vacation, new warm weather outfits, or a PS4 or Xbox One to keep the kids occupied while school is out. Unfortunately, there is a great option that families don’t always consider, and it can improve job stability and overall quality of day-to-day life.

Families who have been planning to buy a new car in 2014 should consider purchasing a pre-owned vehicle from a recent model year. Owning a car can improve a family’s economic standing, the parents’ job stability, and the well-being of the family as a whole. Additionally, it can improve the credit health of the parents if they keep up with their payments, and if they use their tax refund towards a down-payment, they can certainly negotiate a lower interest rate. Also, a pre-owned vehicle from last year or only a few years ago will still have modern features like built-in navigational systems, driver/passenger climate control, or Sirius radio.

Are you ready to get into a new or used vehicle? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get you into a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and connect with Approved Loan Store online on Facebook, Twitter, and YouTube!

Image courtesy of Grant Cochrane / FreeDigitalPhotos.net