Here at Blaise Alexander Kia, we believe the Kia financing process should be easy and accessible to all drivers. That’s why we’re sharing a closer look at the important factors and options you’ll want to consider when financing your next car, like your credit score. The higher your credit score, the better the terms available to you, so consider these options and methods for raising your credit score.
Pay Down Your Debt
Your credit score is important because it essentially tells the lender how reliable you are to lend money. To that end, if you have a lot of debt in your name, it will lower your credit score. A good rule of thumb is to keep your credit usage under 30%. By paying down some of your debt, especially if you can get under that 30% mark, you’ll be able to boost your credit score and have access to more vehicles within your budget.
Extend Your Line of Credit
Another way to reduce your credit usage percentage is by extending the credit available to you. Typically, this simply requires a call to your credit card team. If they can extend your line of credit, the usage percentage will drop, ideally below that 30% mark. This can be especially useful for expanding your car purchasing options.
Pay Your Bills on Time
The amount of credit you use is one important factor when it comes to your credit score, but so is your history of repayment. For that reason, you want to make sure you’re always paying your bills on time. Missing or delayed payments can significantly reduce your credit score but making payments every month can help to give you the boost you need.
Kia Financing Support is at Blaise Alexander Kia
At Blaise Alexander Kia, we’re here for your financing what-ifs. Learn more about raising your credit score, the Kia financing process, and how to make the most of the financing tools and resources we offer at our dealership.