Financing 101: What’s a credit report?

One of the first things to understand about financing a vehicle is the importance of a credit report. Your credit report is basically a history book on your spending and earning habits. It tells you a lot! It tells banks and lending institutions a lot, too. “Your credit score tells you what you can buy,”

Why is it so important? “It’s kinda like a backup plan, if you don’t have cash to pay for things,”

A lot of people can’t write a check for a brand new car. We are lucky to have an option for monthly payments and that’s why maintaining your credit score is so important. As is not living beyond your means! I recommend viewing your credit report at least once a year. This will keep you knowledgeable and on top of your credit.
How do you feel about the finance part of buying a car? Do you have any financing questions that you’d like me to write about here?