We commit ourselves to changing our customers’ lives by monitoring their credit score on a quarterly basis, then notifying them once their score improves enough to graduate them into a newer vehicle, or maybe even a brand new vehicle, at a lower interest rate!
We always do our best to make sure our customers understand that payments made on time are equivalent to permanent A’s on their credit report card while late payments are the exact opposite, permanent F’s that adversely affect their credit report card.
We help educate our customers in understanding that the key for them to “graduate” from a high-interest rate associated with challenged credit scores to a lower interest rate is to ensure they do not have even one “Over 30 Days Past Due” car payment in the first 18 months of their loan.
As timely payments continue rolling into their lender and their credit score improves 8-10 points each month, we reach out as soon as our customer graduates to 150-180 over their initial credit score to help them get a newer or brand new vehicle at a lower interest rate and, possibly, a lower monthly payment.
We always love telling our customers “Congratulations on your upgrade!” because it means that, not only do they get to enjoy lower interest payments in a newer or brand new vehicle, they can also earn lower interest rates on everything else they finance, such as credit cards, student loans, and even a mortgage on a new home.