Car Financing service

Concept Crédit has been conceived to help customers purchase a vehicle and at the same time restore their credit record. Usually, most of the customers make the mistake to buy their first car directly to the dealer. But, even you choose your car, it does not mean your financing request will be approved. The bank will considerate your salary, your debt ratio and your capacity of repayment. If in the past you had problems such as: bankruptcy, proposal, late payment or recovery, waiting will not improve your credit record. You must act as soon as possible to rebuild your trust and confidence.

90% of the bank refers to Equifax and 10% to Transunion.  All the information about your credit record remains in your record for 6 to 7 years with Equifax and over 14 years with Transunion. For this reason, it is important to act as fast as possible to improve your credit record (and your credibility also) in order to borrow money with a best interest rate.

Knowing that all these informations will remain in your credit file for over 14 years, what decisions you can take to improve your credit record?

Here are some advices you must put in practice right now:

  • Pay always your bills on time – Your payments records are important to determine your credit score. You can easily avoid late payments, especially with online solutions. An excellent payment record will help you to improve your credit score. Your credit file follows your payment history in order to make your background impeccable.

  • Use many types of credit over a long period – Time is really important for your credit score. Keeping an open account is a warranty for your creditors that you are credible borrower. Also, a balance between your different credits and loans accounts give a good impression of you to them. Otherwise, purchasing monthly with your credit card and paying always on time will improve your level of credibility.

  • Avoid excessive debts – keeping a control of your debts is a proof to your creditors that you are a credible costumer. It is favorable for your credit record to use regularly your credit, but avoid overloading your credit card and don’t keep a high balance over many months. Your priority should be keeping a low balance payable on your credit card.

  • Be moderate with your credit request – Excessive credit request can decrease your credit score. It is recommended to make a request only when it is necessary and for an account that you will keep open for a long period. Checking yourself your credit will not affect your credit score.

  • The positive, it’s always better –  As we said before, negative situations, such as bankruptcy, remains in your credit file record for over 6 or 7 years and obviously affect it. Prevention is the key. Use your credit responsibly to avoid negative record. Be vigilant of identity theft.