If you’re considering financing a new Mazda car, having a good credit score is one of the most important aspects of receiving the best rates and terms on your loan. A higher score can lead to better Mazda financing options, while a lower score can limit your vehicle choices. Here at our Mazda financial services center at Fields Mazda of Asheville, our team of finance professionals is happy to share their tips on how to raise your credit score.
Know Your Credit Score
Before you start working on improving your credit score, it is important to know where you currently stand. To find your credit score, you can obtain a free report from each of the three credit bureaus — Experian, TransUnion, and Equifax — once per year. Your credit score is based on information in the report, so if you notice any issues or discrepancies, it’s important to report them.
Pay Your Bills on Time
Payment history is one of the most important factors that go into your credit score. Late payments can negatively impact your score, so it’s critical to pay your bills on time. It can help to set up automatic payments.
Reduce Your Debt
Another important factor in your credit score is your credit utilization ratio, which is the amount of credit that you’re currently using compared to your available total credit. The ideal credit utilization is below 30 percent, so if you have high balances on your credit card, paying them down can increase your credit score.
Get MAZDA Financing in Asheville, NC
Even if your credit score isn’t the highest, our team of Mazda finance professionals at Fields Mazda of Asheville is happy to get you behind the wheel of a vehicle that works for you. Learn more about financing at our dealership.
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