Credit Restoration Program in New London, CT
If you are looking into credit repair in New London, CT, the friendly team at Colonial Hyundai is here to help. Many of our new and used car shoppers wonder if there is credit repair near them, and with options for you throughout the year right here at our dealership, there is no better place to begin your journey. Whatever your credit situation, we are the team that has your back. Let's get into everything related to credit restoration below, plus we will offer a few tips to get your credit score going up instead of down.
What is Credit Restoration?
Credit restoration typically involves reviewing and correcting your credit report by removing errors and incorrect information. You will sit down with an expert and go over your current credit report, which will include debt, repayment history, hard inquiries from lenders, and so on. We take the time to make sure your credit is in order before getting you started with the financing process, which can be a great help to car shoppers.
Auto Loan for Credit Restoration
Getting a lender to give you significant amounts of money with bad credit can be an uphill battle. However, the pros at Colonial Hyundai are here to assist with auto loans for credit restoration, which, over time, can show future lenders that you can pay off debt on time towards your car, truck, or SUV. The more positive history you have with debt, the higher your credit score will go. You also want to take this in stride, as credit restoration takes about 3-6 months to fully go into effect.
How Credit Restoration with Colonial Hyundai Works
Credit restoration or repair at Colonial Hyundai is pretty straightforward. We help you correct your credit score with official credit agencies, update balances or payment history, remove accounts belonging to another person, correct inaccurate late payments, address accounts listed as open when they are closed, and more, all to get your score higher than before.
You can never be too sure your entire report is 100% factual, so we are here to step in and help walk you through this process.
Note: Colonial Hyundai is also proud to offer low-credit or no-credit car loans to qualifying shoppers, another way to improve credit through on-time repayment.
Selecting the Right Credit Repair Program
Choosing the right credit repair program for you is a big step. At Colonial Hyundai in New London, CT, we start by correcting your credit report alongside official agencies, helping raise your score due to inaccuracies previously shown to lenders. We can also offer loans to higher-risk buyers with low or no credit history to help boost their long-term financial standing with creditors, so there are many ways to tackle this.
FAQs on Credit Restoration
You might be curious about how credit restoration can help you get into the Hyundai of your dreams. Here are some common questions our drivers often run into that we want to get answered for you now.
How Much Time Does Credit Repair Take?
Although every credit score rises at different rates, the average timeframe for credit repair is about three to six months. The more you correct and improve your report, the faster you can expect the agency to declare lower balances, on-time payments, and new or closed accounts, all of which can help with the repair/restoration process.
Most drivers wait about six months to see a much healthier credit score.
How Does an Auto Loan Help Improve My Credit?
An auto loan can dramatically improve credit over time as it shows that you can repay large amounts of money to a lender. Of course, to make this accurate, you must stay ahead of monthly payments to Hyundai, or you risk further damaging your score. Enrolling in auto payments might be the best way to remember your due date, which is the same for credit cards and other private or public loans. You never want to miss your due date, as this will go on your credit report as a late payment.
Is There a Difference Between Credit Repair and Credit Restoration?
Nope! There is no difference between a credit repair and a credit restoration program. In both scenarios, you are working towards the goal of a higher, healthier credit score, usually through loans, repayments, correcting inaccuracies on your report, and working with a qualified team like ours here at Colonial Hyundai of New London. The best way to get started on a repair or restoration for your upcoming car purchase is to speak directly with a team member about your financial goals and situation, and we're happy to get the ball rolling.
Can Credit Repair Negatively Affect My Credit Score?
No. A legitimate credit repair program, like ours at Colonial Hyundai, will not negatively affect your credit score. By correcting errors on your credit report, you can raise your score significantly, and proving to lenders through repaying loans that we may provide you helps prove you are a credible borrower. Automotive payments get added to your report, which can mean a much higher score in 3-6 months if you are paying your monthly balance on time.
Of course, Colonial Hyundai's team is here to discuss these things with you further, so please stop by our showroom to begin your credit restoration journey.
Use Colonial Hyundai's Credit Repair Program
Here at Colonial Hyundai in New London, CT, we offer our buyers various credit repair options. You might need to improve your score to qualify for an in-house loan with our team, which we can assist with, or you could need to have your positive repayment history with us added to your report. For many years, we have been a go-to credit repair option for people wanting a new car, truck, or SUV, and with transparent terms, world-class teammates, and a path forward for you, there is no better choice for your repair process.
We are standing by in New London and will be more than ready to start with a credit repair or no-credit or low-score loan here at our dealership. Come see us today!
