Ford Financing Tips: How to Raise Your Credit Score

Shopping for a vehicle is exciting, and the best way to get your ideal Ford financing package is to raise your credit score. Scores range from 300 to 850, and the higher your number, the better your terms. Here are some pro tips to boost your rating from the friendly professionals at Ford of Cookeville.

Pay Down Existing Debt and Loans

If you have existing debt or loans, try to pay them off as aggressively as possible. While you don’t have to worry as much about student loans or your mortgage, credit card debt and personal loans can negatively impact your credit score. Put as much toward the principal as possible in each monthly payment.

Don’t Miss a Single Due Date

Late payments will hurt your credit rating. Make sure you’re on time for every single bill every single month. Your priorities should include:

• Credit cards
• Existing loans
• Home utilities
• Cell phone

When late payments are reported to the credit bureau, your credit score could suffer for years. As you prepare to take out a lease or loan with our Ford financing center, make sure you pay all of your other bills on time. Missing just one payment, just one time, could make your rating plummet.

Avoid Opening New Loans and Credit Cards

Credit cards and many personal loans are considered a “hard inquiry” on your credit score. Even if you’re in good standing with all of your accounts, opening a new one will temporarily drop your rating. Since this could affect your Ford financing package, it’s best to avoid hard inquiries when shopping for a vehicle.

Get a Custom Lease or Loan With Expert Ford Financing in Cookeville, TN

Our Ford financing experts help drivers with all credit scores. Boosting your score before you buy or lease a vehicle helps us give you the best terms possible. Get your custom package at our Cookeville, TN, Ford dealership!