Finance Center

If you have less than perfect credit, don’t fret; you’re not alone. Millions suffer from bad credit due to a wide range of reasons. To improve your credit, start by getting credit reports from all three credit reporting agencies. This will shed light on what exactly is impairing your credit. Credit reports may contain inaccuracies that you can correct to help get your credit back on track.

A credit score represents your creditworthiness and it’s used by lenders to gauge whether a person will make credit payments on time. Scores are largely based on your borrowing history. The most common type of credit score available to consumers is the FICO score, which ranges from 300-850. The higher the credit score, the more likely you’ll be able obtain credit and/or secure a lower interest rate.

Credit scores range between 300 and 850. Typically, a good credit score is above 720.

The average credit score is 680. Anything below that number is considered “sub-prime” or a bad credit score.

For those that already have good credit scores, rest assured that it’s much easier to maintain a good score than to improve a poor score. Good credit can be maintained by adhering to healthy financial habits, such as making payments on time and shopping on credit only when it’s absolutely necessary. Avoid making dramatic credit changes and don’t close old accounts.

So-called “Buy Here Pay Here” dealerships often use nefarious business practices throughout the sale process. They will over-inflate their prices, sell from a low-quality inventory, and are quick to repossess. At Holiday Automotive, we show you where our prices come from, we inspect and recondition every vehicle that comes into our inventory, and you will only work with reputable lenders. What’s more, many “Buy Here Pay Here” dealerships do not regularly report your payments to credit bureaus. At Holiday Automotive, we do not set you up to fail. We set you up to succeed and we want your credit to improve!

Holiday Automotive’s goal is to always to provide 100% guest satisfaction, regardless of your credit score. Unlike some dealerships, you won’t be limited to just a few vehicles to choose from if you’re less confident in your credit score. We have hundreds of vehicles across five lots, and all of them are available to all of our guests. We know it’s important to you to be able to choose your next vehicle, it’s a big decision after all, and that’s why it’s also important to us. It doesn’t matter if you have good credit, not-so-good-credit or no credit. We guarantee approval! From the moment you walk in the door, we’ll do everything we can to help you find a vehicle that fits your needs, and at a price you can afford.

This is often a bad idea. Personal loans can be just as difficult to secure as auto loans and since they do not have collateral (the vehicle that your are purchasing) they typically come with even higher interest rates.

Since we work with reputable local and national lenders, refinancing is always an option down the road. In fact, after several months of on-time payments and some equity built up in your vehicle, you may be able to refinance for a lower rate.

Our team has partnered with a financial institution that provides financing plans nationwide. They will get you on track with payments that you can afford, as well as report all of your payments to the three major credit-reporting agencies. That boils down to you not only buying a car that works within your budget, but a payment plan that also helps strengthen your credit.

We all know that several credit inquiries on your report can actually adversely affect your credit score, but what you may not know is that most scoring models count similar inquiries made in one period as just one inquiry. This period can be anywhere from 14 to 45 days. In other words, as long as you make your purchase within two weeks of your first inquiry, your credit score will receive minimal impact.

We have no desire to set you up with a vehicle or payment that you cannot afford. Our Product Specialists are non-commissioned. That means their primary goal is finding the vehicle that best meets your needs and your budget. When you visit Holiday Automotive, simply tell your Product Specialist what payments you can afford. We’ll work together to make sure you’re driving away in a car you’re excited about, and at a payment you’re comfortable with.

As with any vehicle purchase, the more money you have down or the more your trade is worth, the better it will be for your financing plan. We recommend 15% of the vehicle you’re interested in, but if you can’t provide that, we will absolutely work with you regardless of how much cash/trade you have to put down. We’ll even work with you if you can only put $0 down.

ou should bring along with you a valid driver’s license, proof of residence (which includes a utility bill, pay stub, etc.), proof of income if you’re employed (pay stub), vehicle insurance information, trade-in vehicle and its title (if applicable), references, and the amount of cash you’d like to put down. If you think you have a unique situation that calls for additional documents, or if you have any questions, feel free to reach out to us.