his car was financed, my husband had no credit so it was financed at a rate of about 25% interest. We were told by the salesman that after 6 months of paying on time and over the amount we could refinance with another company and pay less in the end. We need to know how to do this. My husband now has a perfect credit score and if we could get the interest down to about 15% we would be pleased.
Ok… so his score is 700. That may not be perfect but at least now he does have one in excellent standing. We pay for the car every 2 weeks, not once a month. When we pay… it’s about $30 over the agreed payment. I know 25% is high but we had no choice… he had no credit and I paid off all my debt and my score hadn’t come up yet. It was still under 600.
The car is not the only thing bringing his score up. He has a credit card and we got a computer. The computer is owing to a affair that offers to report to the credit bureau and raise your score. Been paying on those both for 6 months also.