"There is a Reason People Keep Coming Back For More"
Credit is an important aspect of modern life that provides a bit of a snapshot into your financial life. People use credit to pay for things when they don't have enough cash on hand. You then pay back the creditor over time with interest.
To keep track of what you borrow, how much, and when, there are companies called credit bureaus. There are three national credit bureaus: Equifax, Experian, and TransUnion. These companies store the credit histories of American consumers. This history can be viewed on your credit report.
You are legally allowed to view your credit report once a year for free. You can get your report at AnnualCreditReport.com. By checking your reports annually, you can make sure everything is accurate. If you spot any inconsistencies, you can report them to get them resolved.
Your credit report includes important information about your credit like your payment history, how many credit accounts you have, how long you have had each account, and how much you owe. All of this information is summarized numerically in the form of a credit score. These scores typically range from 300 to 850, and the higher your number, the better you will be viewed by potential creditors.
Creditors will look at both your credit score and report to determine what terms they are willing to offer you. If your credit isn't as good as you would like, there are ways to improve it.
The simplest way to improve your credit is to make sure you pay each creditor on time, as late payments can big the biggest detriment to your overall credit. Another important factor in maintaining good credit is to not borrow more than you can afford to pay back. You should create a budget to see how much you actually spend each month on different expenses.
Bob Sight Ford Inc.
When the time comes to add a new car to your life, the first choice you need to make is do you want to buy a lease your car. We'll talk about some of the pros and cons of each choice to help you decide which option is right for you.
Leasing a car is similar to buying in the fact that you'll make monthly payments. However, these payments are usually lower than monthly loan payments would be on the same car. Because of this, if you opt for a lease, you may be able to afford a nicer car than you would with a loan.
You'll get to keep the car for a specified amount of time (36 months is common), and at the end of the lease contract, you return the car to the dealership.
Another way that leasing can save you some money is that you often won't need as much of a down payment as you would with a new car purchase.
For people who love driving a car with the latest technology, a lease is a good option because you can get in a new car every few years.
The majority of car shopper choose to buy a car and most take out loans to do so. If this is what you choose to do, you will make monthly payments until the loan is paid in full and then the car will officially be yours.
Buying is a good option because it gives you the freedom to do whatever you want with your car. You can drive it as much as you want and make any modifications you want without worrying about incurring fees, like you would with a lease.
A few downsides to buying include higher monthly payments, more maintenance costs down the road, and the unknown aspect of knowing what your car will be worth when the time comes to sell it or trade it in.
Consider your lifestyle and budget to figure out whether buying or leasing is right for you.
Leasing a car is a great way to get to drive a new car every few years. But, what are you supposed to do when your lease ends? That is an excellent question, and we are here to help.
As your lease contract comes to an end, you have three options.
When you get close to the contract end date, call the dealer to set up a time to return your car or discuss options. If you do decide to turn your car in, you should inspect your car for any excess wear and tear, such as large dents and stained upholstery. You also want to check your mileage to see if you've gone over your limit. If you do have any excessive wear or mileage overages, you will have to pay some fees.
Finally, remove any personal belonging from the car and take it back to the dealer.
If you have any questions about returning or purchasing your lease car, give us a call at Bob Sight Ford.