Auto Financing Deals 2009
auto financing deals 2009
Auto financing/credit question?
I want to finance a used car this coming Friday, February 26th, 2010. The problem is my credit. I have a credit card with a $350 limit. I missed a payment in January of 2010. Before the payment I made on Feb 19th, the last time I made a payment was on December 14th 2009. The statement balance for Feb was $535. I paid fifty on the 19th so now, online, it says $485. I am going to make a payment of $300 on Friday Feb 26th. That statement closes on March 1st. If I wait and go to the dealership on March 2nd or 3rd, would it make much of a difference in terms of the kind of deals I get? This is the only negative item on my credit report. I don’t know my credit score.
No this is not going to make an immediate difference if you’re referring to the credit check the company you’re buying the car from is likely to make. Credit updates are usually done quarterly therefore its not going to matter if you do it on the 26th or the first of March. If I were you I would go to www.freecreditreport.com and see what your credit score is just so you can stay informed. However, if this is the only card you have and therefore the only credit history you have, you need to be careful and be sure that you are making payments on time and not going over your limit. This is a very vital time for building up your credit and even when money is tight its important that you just make the minimum payment if thats all you can do. Good luck on getting your car!
