Have you recently gone through a foreclosure, and now your credit score is suffering? Allow our team at Bayside Auto Sales to teach you How to Rebuild Credit with Car Loans after Foreclosure near Marysville. We make it easy to apply and be approved for auto financing with us, so don’t hesitate to start your application today.
How Does a Foreclosure Impact Your Credit Score
It’s important to understand the full details on foreclosures before deciding you want to learn How to Rebuild Credit with Car Loans after Foreclosure near Marysville. A foreclosure occurs when a mortgage lender takes possession of the property once payments are failed to be made by the borrower. Foreclosures don’t show up on your credit report until within one or two months after the lender has initiated the foreclosure process. However, a foreclosure can leave a stain on your credit for up to seven years, starting at the date that you first failed to make a payment on the property. If you already had a lower credit score before the foreclosure went on your report, you’re likely suffering from extremely poor credit as foreclosures can be unforgiving.
Apply Today and Learn How to Rebuild Credit with Car Loans after Foreclosure near Marysville
Don’t let our explanation of foreclosure and credit scores scare you, or make you feel hopeless. While it’s true that foreclosures leave unforgiving, long-lasting stains on your credit scores, you’re not out of options. This is where auto financing from Bayside Auto Sales can assist in improving your credit and making up for what the foreclosure has done to your report.
The first step in learning How to Rebuild Credit with Car Loans after Foreclosure near Marysville is to come up with a reasonable budget for your loan. This should include the down payment on your vehicle of choice from our inventory and how much you can afford to pay on the loan each month. If you need help in figuring out a budget, feel free to ask our finance team for assistance. Once your budget has been settled, apply for a loan on the vehicle that you’d like to finance. From here, our team will work on finalizing the details of your loan and get back to you with the final approval and offer. Then, all you’ll need to do is make each of your monthly payments on time and in the full amount to start seeing improvements in your credit score.
Working with Bayside Auto Sales to get the auto financing that can turn your credit score around will prove to be easy and beneficial. Don’t hesitate to reach out to us today to learn How to Rebuild Credit with Car Loans after Foreclosure near Marysville. You can also visit our dealership to meet with our team at 9815 Evergreen Way, Everett, WA 98204.
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