Unknown Facts About Credit #7 - How to Put Less Money Down, and Still Get a Good Deal
You are looking for a new car, or a home and you know that you will have to get a loan to buy it.
The fact is that loans are expensive, and they still can drain your bank account.
Many people suggest that when you apply for a loan you try and put a percentage down on the purchase, this gives you some ownership of the item and also can save you money on the loan itself.
The usual goal is about 20%, or a fifth of what the car or property will cost.
That way of thinking is good, but if you are making enough money, but need more time to save up for the down payment you could miss out on some great deals.
That's where a good credit score comes in, a good score can not only help you get approved for a loan, but it can help you save money on finance charges, interest rates and how much the lender requires you to put down.
If you can get the same deal as someone else who is borrowing money and put down half of what they did, wouldn't that be a great deal for you? You can have two people trying to buy a house for $100,000, the first person has a good score and puts down $20,000, towards the loan.
The second person has a great score and puts down $10,000.
They end up with similar monthly payments but the second person saved $10,000 on the deal, all because of his score.
If you have a low, or even a good but not great score you do have a fast option that can help.
By simply using credit repair to fix your score you can have it up in no time.
Credit repair can fix a score no matter the reason it was lowered including; lawsuits, missed payments, repossession, identity theft, foreclosure or bankruptcy.
The process is effective, fast, simple, easy on you, and very affordable.
The fact is that loans are expensive, and they still can drain your bank account.
Many people suggest that when you apply for a loan you try and put a percentage down on the purchase, this gives you some ownership of the item and also can save you money on the loan itself.
The usual goal is about 20%, or a fifth of what the car or property will cost.
That way of thinking is good, but if you are making enough money, but need more time to save up for the down payment you could miss out on some great deals.
That's where a good credit score comes in, a good score can not only help you get approved for a loan, but it can help you save money on finance charges, interest rates and how much the lender requires you to put down.
If you can get the same deal as someone else who is borrowing money and put down half of what they did, wouldn't that be a great deal for you? You can have two people trying to buy a house for $100,000, the first person has a good score and puts down $20,000, towards the loan.
The second person has a great score and puts down $10,000.
They end up with similar monthly payments but the second person saved $10,000 on the deal, all because of his score.
If you have a low, or even a good but not great score you do have a fast option that can help.
By simply using credit repair to fix your score you can have it up in no time.
Credit repair can fix a score no matter the reason it was lowered including; lawsuits, missed payments, repossession, identity theft, foreclosure or bankruptcy.
The process is effective, fast, simple, easy on you, and very affordable.
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