Archive for February, 2014

How Your FICO Score Can Affect A Car Purchase…

Thursday, February 20th, 2014

When it comes to purchasing a vehicle, you probably already know that you should have good credit and that you should check your credit report before making a purchase.  But what many consumers don’t understand – and we are here to explain – is the relationship between what’s on their credit report and their overall credit score, known as their FICO, and the impact this has on the rate they are charged by a lender to finance their vehicle.

Basically, a credit report is the “raw data” used to calculate the credit score (FICO).  A person’s financial behavior patterns are reflected in the credit report.  The raw data that is used is as follows, with corresponding weight to impact your score:
Payment History (35%)
Amounts Owed (30%)
Length of Credit History (16%)
New Credit (10%)
Types of Credit Used (10%)

There are 3 main reasons as to why the FICO score is so important and your should pay attention to it:
1-    It’s the Industry Standard, used in more than 90% of lending decisions
2-    It determines how much money you can borrow and how much interest you’ll pay
3-    A strong FICO score gives you access to the best interest rates, loans, rebates, and premium credit cards.

So how do you know if your credit score (FICO) is any good?  Once you’ve checked your credit report and you know what your score is, compare to the descriptions below and you’ll know how you’re going to measure up before walking in to purchase a vehicle:
–       Excellent Credit Score: 720 and up
–       Good Credit Score: 680 – 720
–       Fair Credit Score: 640 – 680
–       Poor Credit Score: 350 – 340
*Sited from www.thecarconnection.com

At Car Direct, our goal is to help you in finding the right vehicle for you at a rate that you can afford.  Check out our inventory page to see what we currently have in stock.  Don’t see what you’re looking for?  Give us a call – that vehicle may be on its way in.  If not, we’ll find it for you!  And then we’ll help you get the best financing possible!

Car Direct Financing

BRING IN YOUR W2 & DRIVE TODAY!!!

Monday, February 3rd, 2014

TaxMax

Can I really buy a car today without the full down payment using my W2?

At Car Direct USA, the answer is YES!

Bring your W2’s to us and we will assist with preparing your taxes and getting you a refund TODAY. Use all or part of your refund for a down payment and DRIVE HOME TODAY.

For more details call us at 1-757-464-1200.

At Car Direct, our goal is to help you in finding the right vehicle for you.  Check out our inventory page to see what we currently have in stock.  Don’t see what you’re looking for?  Give us a call – that vehicle may be on its way in.  If not, we’ll find it for you!