MAZDA Financing Tips: How to Raise Your Credit Score

When you work with our Mazda financing team to finance your new or pre-owned vehicle, we’ll take a look at your credit score to help determine your monthly payments, interest rate, and loan lifespan. If you have little or poor credit, don’t worry! Bakersfield Mazda is here to educate you on raising your score.

What Factors Affect Your Credit Score?

Before you can raise your credit score, you should understand how that number is determined. There are a few factors, including:

• On-time payment history for things like utility bills, credit card payments, and loan repayments
• How much you owe for debts such as mortgage, credit cards, and other loans
• Length of your credit history
• Credit mix, such as car loans, mortgages, and other loans

Credit scores can be between 300 and 850. The higher the score, the better your credit—and the better your credit, the lower your car loan interest rate will be.

Tips for Raising Your Credit Score

The best way to raise your credit score is to pay your bills on time. This shows lenders like our Mazda financing center that you’re a trustworthy borrower who is diligent about paying off their bills and debts. Also, try to minimize your debts and use a smaller percentage of your credit card limit to raise your score.

Every little bit helps, and since the loan terms for your Mazda vehicle will be affected by your credit score, it’s definitely worth working to improve that score.

Get MAZDA Financing in Bakersfield, CA

Have additional questions about your credit score and how it’ll affect your loan terms? Our Mazda financing team is here to help. Come by our Mazda dealership in Southern California and our friendly staff will help you get the best loan for your new or pre-owned vehicle!