Ready to own the car of your dreams? Start with a strong credit score
If you had complete control over your financial future, what would it look like? Would it involve traveling to new destinations in your very own car?
Whether it’s your first ride or an upgrade to something sleeker, buying a vehicle is one of the biggest milestones in financial independence, and your credit score plays a powerful role in helping you get there.
At Finance365, we understand that owning a vehicle isn’t just about transport, it’s about freedom, mobility, and success.
That’s why we’re breaking down the basics of how to build a credit score that puts you in the driver’s seat of your next car purchase.
Why Your Credit Score Matters When Buying a Vehicle
Whether you’re applying for vehicle finance, looking to lease, or aiming to negotiate the best interest rate on a car loan, your credit score is the key that unlocks the door.
It’s a three-digit number tied to your ID number that helps lenders gauge how likely you are to repay borrowed money. Essentially, it’s a trust rating for your financial habits.
A better score means better loan offers, lower interest rates, and more choices when it comes to financing the car you want.
The Three Keys to Credit-Building (and Getting Closer to Your Dream Car)
Key #1: Understand The Power of Your Credit Score
Think of your credit score as the foundation of your car-buying journey.
A good score can mean the difference between driving off in the car you want or settling for less due to high interest or loan rejections.
Start by knowing where you stand. With Finance365’s free credit check offer, you can see your current score and understand what you need to work on, all without impacting your rating.
Key #2: Start Building Credit
Here’s how to start building or improving your credit score:
1. Open a Credit Account
If you’ve never had credit before, applying for a beginner-friendly credit card, a retail account, or even a small personal loan is a great way to begin.
Every responsible repayment boosts your score, bringing that new car within reach.
2. Pay on Time, Every Time
Payment history is the most influential factor in your score.
Want to get vehicle finance approved quickly? Make every payment on time.
Even paying just the minimum due eachmonth keeps your record positive and shows lenders you’re reliable.
3. Keep Your Credit Use Low
Credit utilisation is the percentage of your available credit you’re using. Lenders prefer this to be under 50%.
For example, if your credit card limit is R10 000, try to keep your balance below R5 000. Low utilisation helps you score better deals, like lower interest on your car loan.
Key #3: Monitor and Protect Your Score
Stay in control by checking your credit score regularly with Finance365’s unlimited, free soft-checks.
You’ll be alerted to changes, see your progress, and spot fraud or errors early, so nothing stands between you and your dream car.
Take the Wheel and Start Improving Your Score Today!
Finance365 makes it easy to begin:
- Free credit score checks
- Real-time credit alerts
- No impact to your score
- Practical credit-building tips
Whether you’re dreaming of your first car or eyeing a long-overdue upgrade, your financial future starts with your credit score.
Check your score today with Finance365.
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