Looking to finance a used car while rebuilding your credit? The finance team at Thompson Toyota is here to help you.

Car buyers near Edgewood, Clayton, Bel Air, and Baltimore can read on to learn the best steps to take to repair credit, as well as how we can help you get behind the wheel of a great pre-owned car.


Financing for Your Lifestyle Needs

You may be unsure how to finance a used car while rebuilding your credit, so our finance team is here to guide your through every step. Sit down with one of our financers to discuss any concerns you may have, and we'll show you the options currently available to you.

We'll provide any advice you may need on how to secure an auto financing rate you can feel confident about, as well as how to continue to repair your credit.


How to Rebuild Your Credit

If you're looking to rebuild your credit so that you can finance a used car, you can begin to take the following steps. If you have any additional questions or would like advice on your specific finance needs, speak to a financer today.

1. Review Your Credit Report

The first step to fixing your credit is to get your credit score. Some credit cards provide you with an updated report with your statement or there are several websites available to help you.

Browse through your credit report, take note of any errors, and make the necessary steps to correct them. Even one fixed discrepancy can have a huge impact on your score.

2. Pay Your Bills on Time

It seems obvious, but the biggest factor on your credit score is every bill you have. That's why you'll want to make sure to always pay them on time. One missed payment, even by a day, can have a negative effect on your credit, so make sure to balance your budget accordingly.

3. Pay Any Balances

Another way to rebuild your credit is to begin paying off any balances you may have. Steady monthly contributions will help chip away at your balance and repair your credit score. 

4. Increase Your Credit Limit

It's recommended that you don't reach the limit on your credit card in order to improve your score. For example, if your limit is $1,000 a month, your bill should be no more than $500 to $800. If you find you're reaching your limit every month, consider raising it.

5. Open Another Credit Account

Getting approved for a credit card can help give your credit the boost it needs. It also helps you disperse your payments, so you stay well under your monthly limit.

6. Consider Combining Your Credit

Making someone an approved person on your credit can help you build up your credit. However, this person needs to be someone you trust completely, since their credit will affect yours. Talk to your spouse or family member to determine if this is the best course of action to take to fix your credit.


Finance a Used Car Today

The team at Thompson Toyota is ready to help you finance your next used car while working on rebuilding your credit, so contact us today to get started.

We look forward to seeing our friends near Edgewood, Clayton, Bel Air, and Baltimore soon!

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Contact

Thompson Toyota

1101 Business Center Way
Directions Edgewood, MD 21040

  • Sales: (410) 679-1500
  • Service: 866 371-6773
  • Parts: (410) 679-1500

Hours

  • Monday 9:00AM - 8:00PM
  • Tuesday 9:00AM - 8:00PM
  • Wednesday 9:00AM - 8:00PM
  • Thursday 9:00AM - 8:00PM
  • Friday 9:00AM - 8:00PM
  • Saturday 9:00AM - 5:00PM
  • Sunday Closed