May 25

Credit is one of the most important considerations that lenders will have to take into consideration when they offer car loans to buyers. Credit is something that everyone has  - and has to learn to manage. There’s no way around it; your credit will impact your car loan rate and amount.

Here is some more information about credit and about how it impacts your car loan:

Credit is a story

Credit is like a story – telling lenders more about how you have behaved from a financial perspective. By reading this story, lenders will get a better idea of what your lifestyle is like, what your financial approach has been, and maybe a little bit more about your personal characteristics. Whenever possible, it’s important to make sure that the story stays positive. To make sure the story stays positive, buyers should always keep their debts low, repay their loans on time and in full, and be as stable as possible in all aspects of their lives (including their jobs and living environments).

A good story gets rewarded

If you are able to write a good credit history – or story – then you will be rewarded by having better financial opportunities from lenders. If you have good credit, you will likely qualify for a higher loan amount and lower interest rate on that loan. On the contrary, if you have bad credit, you may have to work with a lower loan amount and a higher interest rate.

The story can change

Your credit can go from good to bad or bad to good with just a few decisions. Therefore, it’s important that you have a wealth of information in front of you so that you can make wise decisions. For example, if you want to improve your credit, then taking out a car loan may help. You will repay the car loan, which will show lenders that you are able to be financial responsible when a huge financial commitment is involved. However, if you fail to repay the car loan, your good credit could just as easily go bad.

The story never disappears

While the credit history story may change and go through peaks and valleys, it never disappears. This is another reason for why it’s important to develop a history of making the best possible and most positive financial decisions.

Contact us today at www.drcredit.ca  for more information about credit – or to learn about how to get a car loan regardless of your current credit situation.

May 10

If you are like many people, you’re more than willing to take the time to wash your used car yourself in order to save a few dollars here and there. Washing your car yourself can be easy and effective - especially if you are willing to invest in the right tools and knowledge. Here are some tips and steps to help you wash your car the right way in order to get clean and shiny results:

You’ll Need Water

This first tip may seem obvious. However, many people have limited access to water - especially folks that live in apartment complexes. Therefore, make sure that you have a steady stream of water available to you. One bucket of water will not be enough to get the truly clean look you’re going for.

Go from the Top Down

If you have limited access to water, like many people do, then it’s important to know how to conserve your clean water for the longest period of time. Most cars are cleanest on the top and dirtiest on the bottom. Therefore, start at the top and work your way down. However, if you’re planning on cleaning the tires, then start with the tires, but use a separate bucket of water. Otherwise, if you start with the top of your car and then do the tires, the water will dry up on your used car and leave spots that are hard to get out.

Keep in mind that you should never use the same wash water on the body of your car that you use on the tires. Water that is used on the tires will often contain dirt that can scratch your car.

Rinse First

Always rinse your car before you begin washing it. Rinsing your car will help to remove dirt build up that can scratch your car if it is not removed.

Focus on One Section

It may be tempting to try to wash your entire car in one fowl swoop. However, it is much more effective if you can focus on just one section at a time. After you go section-by-section, rinse the entire used car again to remove any spots that may have gathered as the car dried.

Remember: always wash your car in the shade so that the water will not dry up too quickly and cause spots to form before you’re finished!  If you are looking for a new used car or used truck check us out at www.drcredit.ca we can get you approved regardless of past credit.