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Credit Faq's
What does my credit report have to do with my credit score?
Answer: Your credit report is a detailed history of your credit accounts including payment history, credit limit, highest balance ever charged, and age of the account.
How Can Wheels and Deals Second Chance Program Help Me?
Answer: Your Credit Score is not just a report of you poor credit, it is a representation of your good credit as well. Think of it as a glass of water with a little "bad dye" in it. The clearer the water, the better your credit score. If you just add some "good water" the color becomes clearer. By adding excellent credit to a poor credit score, it is going to drive your score higher.
Wheels and Deals will assist you in getting you financed for your vehicle, in turn this will push up your credit score. You may have to pay a higher rate initially to get financed but we have the plan for that. You, however have to keep up your part....make your payments on time with our missing any. After the first year, your credit score will start to increase. This as well as some other advise we will provide you with at the time of your purchase may put you in a situation to come back to the lot after 12 consecutive payments and trade your vehicle on a newer model. Yes thats right, trade your car in for a newer one. We apply to an institution that offers a lower interest rate to pay off your existing loan, Wheels and Deals will take your vehicle on trade for fair market value, and request the financial institution re-write your loan to include the payout on your old loan and the balance on the new purchase at a lower rate. You are now half way to better credit.
Answer: Your credit report is a detailed history of your credit accounts including payment history, credit limit, highest balance ever charged, and age of the account.
Your credit score is a numeric representation of your credit report. Think of your credit report like the report card grade for all the work you did in class a particular year.
Your credit score goes up and down depending on how the information in your credit report changes.How Can Wheels and Deals Second Chance Program Help Me?
Answer: Your Credit Score is not just a report of you poor credit, it is a representation of your good credit as well. Think of it as a glass of water with a little "bad dye" in it. The clearer the water, the better your credit score. If you just add some "good water" the color becomes clearer. By adding excellent credit to a poor credit score, it is going to drive your score higher.
Wheels and Deals will assist you in getting you financed for your vehicle, in turn this will push up your credit score. You may have to pay a higher rate initially to get financed but we have the plan for that. You, however have to keep up your part....make your payments on time with our missing any. After the first year, your credit score will start to increase. This as well as some other advise we will provide you with at the time of your purchase may put you in a situation to come back to the lot after 12 consecutive payments and trade your vehicle on a newer model. Yes thats right, trade your car in for a newer one. We apply to an institution that offers a lower interest rate to pay off your existing loan, Wheels and Deals will take your vehicle on trade for fair market value, and request the financial institution re-write your loan to include the payout on your old loan and the balance on the new purchase at a lower rate. You are now half way to better credit.
283 St Mary's Street
Fredericton, NB
E3A 2S5