Have Bad Credit? Need a Car Loan? Here Are Some Helpful Tips

It is important to know what your credit is. This is true in general, but it is especially true if you are planning to finance a car. Knowing your credit score allows you to know that you are getting the best rate possible. Checking your credit report regularly can also help you protect your score by disputing any inaccurate charges or records on your credit. Reporting agencies like TransUnion, Experian, and Equifax are required to provide your score for free on an annual basis. The standard unit of determining credit worthiness is called a FICO score, which is named after Fair Isaacs and Company, the firm that pioneered this scoring process. Your credit score changes over time, and moves up and down based on factors such as opening up new lines of credit, paying off older accounts, and so forth. According to Fair Isaacs and Company's website, a FICO score is based on 5 factors with different weighting: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and types of credit used (10%). As a consumer you are entitled to one free credit report for each of the three main credit bureau companies (Trans Union, Experian and Equifax) per year at no charge. The website to receive and view this data is https://www.annualcreditreport.com. By viewing your credit reports each year, you can pick up on errors in reporting and have them fixed before you make a purchase. Catching these errors sooner rather than later will save you headaches down the road. Achieving and maintaining an excellent credit score is important because people with higher scores are more likely to be approved for loans and have access to lower interest rates. If your credit is less than perfect, you can still get an auto loan, but you will pay a higher interest rate than someone with excellent credit. One way to save money is to opt for a shorter-term loan, such as a 3- or 4-year loan instead of a 5- or 6-year loan. Your monthly payments will be higher because you are paying off the debt sooner, but shorter loans tend to have lower interest rates than longer term loans. A car loan can also be a good step towards repairing a credit score that is not as high as you would like. Because payment history is the most heavily weighted category at 35% of the total score, and is also one of the "good" types of credit used, taking out a car loan and making timely payments can begin to repair a credit score quickly. According to Craig Watts, consumer affairs manager for Fair Isaac Corp. "The mantra for getting a great score is pay your bills on time, keep account balances low, and take out new credit only when you need it." If you are interested in a car loan, be sure to check out http://www.nhcarcredit.com.

Routine maintenance is the best way to keep your vehicle running properly for as long as possible. By following the service schedule in your owner’s manual, you can save yourself costly repairs and headaches down the road. Vehicles are complicated pieces of machinery, but knowing when it’s time for a tune-up doesn’t have to be. First and foremost, be sure to follow your oil change schedule. The motor oil is what keeps your engine running smoothly and you want to be sure that oil is clean! Over time, motor oil becomes dirty and begins to break down. If you wait long enough, it turns into what the technicians in the shop refer to as “sludge.” Dirty motor oil can and will damage your engine, the most expensive part of your whole vehicle. Luckily, the oil change schedule can be found in your owner’s manual, and once your oil has been changed, the technicians put a helpful reminder sticker on your windshield indicating when you need to have your car service again. Your spark plugs should also be changed on a regular schedule found in your owner’s manual. That being said, there are a few telltale signs that you made need to change your spark plugs ahead of schedule. If your vehicle has a rough idle, you may need to change your spark plugs. When you vehicle is stationary with the engine running, the engine should produce a smooth, constant sound. A rough, jittery idle can be indicative that the spark plugs are not functioning properly. If your vehicle is not starting up right away, it may be that your battery is low, or it may also be that your spark plugs are not providing the spark needed to get the engine turning. A faulty spark plug can cause the engine to misfire, meaning that at least one of the cylinders is not firing properly. A misfiring engine is not only jerky and unpleasant to drive; it also produces higher amounts of emissions, and can cause your vehicle to fail a state inspection. Another sign of spark plugs that need to be changed is lack of acceleration. This is very easy to notice. You will put your foot down on the gas and the vehicle either does not respond at all, or it responds more slowly than usual. On a related note, because the engine is not running at peak efficiency, you will notice that you are going through gasoline faster than usual. Replacing the spark plugs will keep your engine running smoothly and efficiently.

Irwin Ford invites you to make the switch this month and see why Ford has been such an enduring brand. Ford just launched the completely redesigned 2015 F-150 which is now 700 pounds lighter than the outgoing model, which has seriously worried the competition since this new model blows the doors off both the Silverado 1500 and the Ram 1500. Plus, with Irwin Ford offering a $1,000 savings voucher, 0% APR for up to 72 months on many models, $0 down payment, and no payments until spring, there is no better time to make the switch to a Ford!