Loan Zone

Are you in the market for a new car? Do you know what you can afford? Maybe you’re willing to take on a higher payment for a shorter period of time. Maybe you’re more comfortable with a lower monthly payment that will take longer to pay off. Regardless, there are ways Liberty Buick GMC can work with you to come up with financing arrangement that gets you moving.

Whether you’re shopping for something fresh off the lot or that’s been around the block, understanding how to finance your car is an important part of the purchasing process.

At Liberty Buick GMC, we aim to make financing your next vehicle something that’s easy to do. Our certified financial advisors are trained to work with any credit situation and leverage a network of hundreds of banks and lenders to secure the best rate for you. Our advisors are kind and considerate. They know that life happens. You shouldn’t be worried or embarrassed about discussing your financial status with our advisors. Helping others work to meet their financial goals is what they were trained to do!

Even if your credit score is something anyone would be proud of, our lenders may still provide you with benefits that you may otherwise not be able to access.

Whether you’re thinking of buying this week or next year, we can work with you to make a plan for your next purchase. Our customers come from Charlotte and surrounding communities — Salisbury to Rock Hill, Monroe to Waxhaw, Lake Norman to Harrisburg, Kannapolis to Belmont — to buy their new Buicks and GMCs as well as shop our great used car inventory.

CHECK YOUR OWN CREDIT SCORE

Often you can check your credit score for free through your bank or credit card institution. You also can request a free copy of your credit report from each of the three major credit reporting agencies — Equifax, Experian, and TransUnion — once a year at annualcreditreport.com or by calling 877.322.8228. Once you have an idea of your score, consider what you can do to improve it! Is everything on your report accurate? If not, file a dispute. You should receive a response to your dispute within 30 days.

Do you know some of the things that hurt a credit score?

• Even one late payment: if you make a payment more than 30 days late, chances are it’s going to show up on your report; if you’re having trouble making payments, it’s better to try to work out a payment plan and keep an account from going to collections
• Not paying ALL of your bills on time: utilities, rent, phone bills — every kind of bill adds up
• Applying for more credit: a hard credit inquiry impacts your score whether or not you’re approved
• Canceling your zero-balance credit cards: cancelling cards reduces the amount of credit you have and can shorten your credit history
• Transferring balances to a single card: it may seem easier, but consolidation on to one card can negatively impact your debt ratio so that you owe too much of a card’s available credit
• Co-signing credit applications: you may be great about paying your own bills, but the person you’re co-signing for may not be; don’t let their negligence tank your credit
• Not having enough credit diversity: credit cards, loans, bills — it matters that you can keep multiple accounts paid up
• Holding high credit card balances: even though you may not own that much, if you owe a high percentage of your available credit, that’s a flag
• Unemployment leading to missed payments: going without a job for a while isn’t the problem; it’s not paying bills that hurts
• Ignoring your credit report: check it annually and do what you can to fix it