Low Credit Score or Credit Problems? No Problem
Work with an industry leader in helping Minnesota residents get their credit back on track and more importantly, getting a better vehicle. If you’ve experienced credit problems in the past, such as chapter 7 and 13 bankruptcy, previous repossessions, foreclosure, divorce, collections, Waconia Auto Loans is here to help! Our customers are treated with dignity, respect and understanding, regardless of their past credit history. At Waconia Auto Loans, we have a large lender network to help you get you the best terms to rebuild or re-establish your credit.
Are you a first time buyer? No problem! We have first time buyer programs just for you! With over 500 Cars, Trucks and SUV’s available in our network we will have a vehicle you will actually want to be seen driving.
Looking to improve your credit score? Waconia Auto Loans can help!
Your credit report is made up of a mix of credit lines (such as mortgages, credit cards, etc.), and this is a good thing. Adding a car loan to the mix shakes up and can help your overall credit score – especially when you make payments on time and show future lenders you’re less of a loan risk.
An auto loan is typically reported as an installment account. Other types of installment accounts include mortgage loans and student loans. Because a portion of your credit score is derived from types of credit used, getting a car loan may help your credit profile if you don’t already have an installment loan – assuming you make on-time payments.
The most important factor in your credit score — accounting for 35 percent of the total score — is a history of timely payments. If you make payments on time every month, your credit score should go up. However, a single late payment can ding your credit.