7 Ways to Rebuild Your Credit

7 Ways to Rebuild Your Credit

Having good credit is necessary for several reasons. Without good credit, it can be very difficult to buy a house, get a new car, or open a new line of credit. Your credit score and credit history can even impact your chances of getting a new job. If your credit is less than great due to bankruptcy, missed payments, or any other reason, you need to start rebuilding it. Here are seven ways you can do so.

Keep Current with Your Bills

Paying your bills on time is one of the best things you can do to rebuild your credit. It shows that you’re responsible and that you can manage your finances and your debt. Missing a single payment, especially if it’s for your car, mortgage, or credit card, can do more damage to your credit score than you might think. If you stay current on your bills, you should start seeing your FICO score slowly increase every month. Your payment history makes up 35% of your credit score, making it the largest factor in determining your score.

Do remember that some bills don’t affect your credit score at all. Utility bills, for example, aren’t considered credit, so they won’t have any impact on your score. Only loans, including mortgages, car loans, and credit cards, are what affect your score. But that doesn’t mean you should get behind on your utility bills, though.

Pay Down High Balances

Another 30% of your credit score is determined by your credit utilization. This is the amount of charges you’ve made on your credit cards, also called revolving credit. If all your cards are maxed out, you have 100% credit utilization. That’s going to greatly impact your score. Those with outstanding credit ratings will usually have a credit utilization of less than 10%. Anything under 30% is acceptable, though.

The best way of dealing with high credit utilization is to make regular payments that are above the minimum required amount. This helps to pay down your balance faster since a good amount of your minimum payment simply goes to cover the interest every month.

Only Open New Lines of Credit When You Must

Another factor that makes up 15% of your credit score is the average age of your lines of credit. Opening new lines of credit lowers this average, which hurts your overall score. Do what you can to avoid getting new credit cards while you’re working to rebuild your credit. Those with high credit scores have a credit age of 11 years, while those with very low scores have an average credit age of about six months. The more credit cards you have, the more you’re likely to be tempted to use them. By not opening new lines of credit, you’re keeping yourself from racking up more debt. However, it is helpful to have one older line of credit on your account. When paying off your debt, keep the credit card account you’ve had the longest, that will impact your credit score in a positive way. And once you pay off other cards, cancel them.

Inquiries Do Affect Your Score

When you apply for a new line of credit, the creditor does what’s referred to as a credit inquiry. This gives them access to all of your credit history and other information, so they can see if you’re likely to be able to pay your monthly payment. Each time someone does a credit inquiry, it temporarily affects your score, dropping it a few points. Inquiries make up 10% of your FICO score, so it’s a fairly small impact; however, the more credit inquiries you have, the lower your score will get. Do your best to avoid applying for any type of loan or credit card, especially if you don’t really need it.

See a Credit Counselor

If you’re having trouble getting a handle on your expenses and credit on your own, you can see a credit counselor. These experts can assist you with prioritizing which credit cards to pay on first and help you understand how your credit score is affected by everything you do. They can help you make a budget that covers all your necessary expenses, lets you start tackling your debt, and still leaves you a little bit of money every month for fun.

Beware of Scams

Watch out for scams that promise they can quickly fix your credit. These companies say that for one small fee, they can wipe out anything negative on your credit report and up your credit score without you really doing anything. That’s simply not true at all. There’s no quick and easy fix for a low credit score. It takes time and dedication to rebuild your credit. Also, remember that things such as foreclosures and defaulting on debt will be on your credit report for seven years or more. There’s no way to remove them before that, and anyone who says otherwise is not being honest. While it’s unfortunate that nothing you do can speed up the process of removing these things from your credit, it’s simply something you have to accept.

Watch Your Credit Score

If you’re working on repairing your credit, you’re likely watching your FICO score like a hawk. That’s a good idea since you’ll be able to see how your actions are affecting it. However, don’t obsess too much or get too depressed if it seems like your credit score isn’t increasing as quickly as you’d like it to. It will take time. Also, be sure to check your credit report every year. You can obtain a free credit report yearly from each of the three main credit reporting companies, and it’s a good idea to do so. This will let you see what’s been reported to credit monitoring companies. If you’ve been the victim of identity theft, this is one of the best ways of catching it. You may see something on the report that you didn’t know about. If it’s a line of credit you didn’t open, you can go about contacting the credit company to close the account.

These seven tips will help you rebuild your credit. Again, it takes time, and it won’t happen overnight. With a little bit of dedication, though, you can do it.

Fairless Motors is a family-owned used car dealership with more than 30 years of experience helping people just like you get the financing for your ideal pre-owned vehicle. Our bad credit auto loans make financing available to all drivers, regardless of your credit score or history. Our friendly professional team will work out your ideal loan amount, the payments you can afford, and the right term for your loan. It’s quick. It’s simple. It’s fair. And making your car loan payments on time every month will go a long way towards raising your credit score.



Tips on How to Maintain Your Car

After the acquisition of a family home, automobiles are often the next most significant purchase that we make in our lifetimes. While we usually buy cars more often than we buy houses, they are still a long-lasting purchase and the buying process should be approached with deliberation to avoid mistakes. With better materials and the amount of precision that today’s cars are built with, they are lasting a much longer time, making pre-owned cars a very attractive option. If you opt for a used car, giving it the proper attention can help it to last longer and run better with fewer days spent in the repair shop.

Consumers who are looking for an affordable transportation option often find a pre-owned car that meets their needs. Proper care can help a well-built car last years, while providing reliable transportation. Proper car maintenance is as simple as tracking fluids, lubricants, and systems. Throw in some protective measures like sun shades, tire rotation, and undercarriage waxing, and you will be good to go. The following tips on proper car maintenance can help you keep your car running well for many years to come.

Regular Oil Changes
Oil is the blood of a car engine and must be changed on a regular basis, and this is one area where it makes sense to spend more for a better product. Putting in the best oil you can afford into your car will help it run better and prevent some costly engine problems. Don’t forget to change your oil with the proper oil weight as often as recommended by your manufacturer or you could end up with a very expensive engine problem that can put your car completely out of commission.

Tire Quality and Rotation
Tires can be expensive to replace but keeping them properly rotated can help to add miles to their life. Your entire car is resting on the tires and it does not make sense to go cheap when purchasing them. In fact, cheaper tires will wear more quickly and require replacement sooner than their higher-quality counterparts. This is another area where it makes sense to spend a little more to get a higher standard of product.

Change Fluids and Coolants
When you take your car in for the regular oil change, have the shop conduct a full review of your car’s basic systems. This will prevent costly repairs down the road that can be easily avoided by maintaining the proper level of fluids. Coolants should be changed based on the manufacturer’s maintenance schedule and should be on your list of regular car maintenance tasks. If you are feeling truly inspired, it’s worth the time to learn how to check and properly manage your car’s fuel levels. This is one aspect of car maintenance that you can carry out yourself if you have the correct knowledge.

Keep It Clean – Especially the Undercarriage
Keeping your car washed and clean does make it look better, but it also helps to protect the body from damage and corrosion. When washing the car, don’t forget to get the undercarriage nice and clean. It is in this area that dirt and debris can build up and create problems if left unattended for too long. Regular washing and waxing is a great way to protect your car well into the future.

Maintain Proper Lubrication
The interworking joints and gears of a car’s engine must be properly lubricated to function well. Do not overlook this step in the maintenance process. Because we don’t often look that closely into the inner workings of car engines, this task is often left until it is too late, and the damage is done. Keeping everything lubricated helps to decrease friction and the type of wear and tear that can lead to more expensive engine issues.

Protect the Interior from Sun Damage
No one wants to drive around in a car with a cracked dashboard or other unsightly interior damage. If you are going to be parked outside for an extended period of time, look for a shady spot. If you live in a warm and sunny environment, or in the hot summer months, and park your car outside on a regular basis, it’s worth the time and effort to invest in a foil sunshade. These simple products protect your car from excessive heat and potentially damaging sun rays. In addition to the cosmetic and surface damage that the sun and its heat can cause, is the potential harm to your car’s computer and electronic systems.

Replace Brake Fluid and Pads as Necessary
Brakes are a key part of the car and should be treated accordingly. If you are taking your car in for regular maintenance such as oil changes and tire rotation, the brakes should also be checked during these appointments. Brake pads and rotors should be changed as necessary and keeping brake fluid at the correct levels will help to keep those more expensive equipment items running well. If your brakes are squeaking, it is likely time to give them some attention. However, if you are properly caring for your brake system, they should never squeak or screech.

Following this list of helpful and straightforward tips can keep your vehicle well-maintained and running smoothly. With the proper care and attention, today’s best-made cars can last for hundreds of thousands of miles, making them a functional and wise investment. When you have a regular maintenance schedule that you follow, these steps are simple to follow. When you buy your new car, be sure that you take the time to find a garage that you can trust. Having a partner working with you to keep your car running smoothly can make a world of difference! Follow these simple steps to keep your car in great shape for years to come.

And when it’s time to replace that vehicle, think of Fairless Motors. Not only do we maintain an extensive inventory or low mileage pre-owned vehicles, we will be happy to take your vehicle in on a trade-in, which you can put towards the purchase of your new car or truck. Go to our Value-Your-Trade page, fill out the simple form, and we’ll get back to you within 48 hours with an estimated appraisal.


The 10 Best Used Trucks Under $15,000

Used Trucks for Sale

The 10 Best Used Trucks Under $15,000

Looking for a great used truck, but don’t have a huge budget? There are a lot of durable trucks out there that are priced quite affordably. If you’re in need of a dependable used truck, but don’t want to spend a lot of money, here are ten of the best used trucks you can buy for less than $15,000.

2010 Dodge Dakota

The Dodge Dakota has been known for its reliability since it wa introduced in the late 1980’s, but the 2010 model brought power into the equation. This truck features a V8 engine and has a good amount of towing capacity. If you’re in need of better fuel economy, the truck is also available in a V6 version, and there are a number of different cab configurations available, too. U.S. News & World Report named the 2010 Dakota one of its top models for the year. The basic used Dakota for this model year retails for around $12,500. If you’re willing to pay a little more, a fully loaded 2010 Dakota is usually priced around $18,000.

2006 Ford F-150 King Ranch

While it may be over ten years old, the 2006 Ford F-150 King Ranch is still a strong workhorse. The F-series is one of Ford’s most popular lines of trucks, and the 2006 SuperCrew Cab is available for less than $15,000. It features a five and a half foot bed, a 5.4-liter V8 engine, and can produce up to 300 horsepower. The only downside for some is fuel economy. While it puts out up to 365 pounds of torque, it only gets 16 mpg on the highway. City driving is even less, averaging around 12 mpg.

2012 Nissan Frontier

The Nissan Frontier has always featured a nice amount of power for the cost. The 2012 model offered a V6 engine along with an interior that was quite spacious and comfortable. The standard model was a V4, which did provide better fuel economy; but since most reviews published at the time strongly suggested going for the V6, that version has become the more common and popular model. You can find a 2012 Frontier for an affordable $13,000.

2009 Toyota Tacoma

With high marks all around, the 2009 Toyota Tacoma was one of the best performing vehicles of its generation. It was designed to be off-road capable, though many did criticize the fact that it doesn’t provide a comfortable ride. That aside, the Tacoma came in either a V4 or V6 option and could tow as much as 6,500 pounds. Kelly Blue Book (kbb,com) gave the double cab model a strong 4.5 stars rating out of 5. Today, you can find a used 2009 Tacoma for less than $10,000.

2003 Dodge Ram

If you’re in need of a truck that can tow a good amount, you may want to check out the Dodge Ram 2500 Turbo Diesel. This 2003 model may seem a little too old, but it has many different options and has remained quite reliable and popular despite its age. You can purchase this model with four-wheel drive, a V6, and an eight-foot bed. The high-output turbodiesel provides up to 305 horsepower and over 550 pounds of torque. All this and a price less than $15,000 make it a very attractive option for a used truck.

2006 Chevy Silverado 1500

The first Chevy on this list is the 2006 Silverado 1500, with a rating of 4.7 out of 5 on Edmunds.com. The Silverado has proven to be very popular regardless of which model it is. The 2006 Silverado offers a crew cab, a V8 FlexFuel engine, automatic transmission, and two-wheel drive. The budget version has a five and three-quarter bed and offers 335 pounds of torque. If you need more power and can up your budget a bit, there’s a 6.0-liter version available. The interior is nice and quite roomy, and the crew cab option gives your passengers plenty of space. This model also gets around 14 mpg on city streets and 19 mpg on the highway.

2009 Ford Ranger FX4

Another Ford truck that comes at a bargain price is the 2009 Ford Ranger FX4, however, most used models may be hard to come by since this truck is considered one of the best small pickups around. It doesn’t matter how old it is, it can still keep up with today’s needs. One popular option is the four-wheel drive Super Cab. This model is equipped to go off-roading and features a 4.0-liter V6 engine. With its six-foot bed, there is enough space to carry just about everything you might need to haul.

2009 Toyota Tundra

If the Ranger FX4 from 2009 isn’t quite right for you, you might take a look at the Toyota Tundra from that same year. This truck is powered by a V8 that provides a very solid ride even when off-roading. The four-wheel drive option is preferred, but if you can’t find it, there’s also a rear-wheel model. A fully equipped 2009 Tundra can pull as much as 10,800 pounds, which is quite impressive. The standard model also has more features than many of its competitors, though the interior isn’t really anything special. You’ll find this version of the Tundra priced as low as $13,000.

2009 Chevy Colorado

The second Chevy and third 2009 model to make the list is the 2009 Chevy Colorado. The crew cab model is a great midsize turbo-diesel truck. The 2009 model was upgraded from the previous generation, which was much more compact. If you find a 4×4 with a 5.3-liter V8, snatch it up as fast as you can. It’s one of the best used trucks you’ll find, especially if you’re on a tight budget.

2006 GMC Sierra 1500 Denali

The 2006 model of the GMC Sierra 1500 Denali earned its place on this list by being both affordable and quite luxurious. If you’re looking for a crew cab designed for comfort and power, you’ve found the right option. The Denali has a five and three-quarter bed, a 6.0-liter V8 engine, and 380 pounds of torque. The only thing it doesn’t offer is good fuel economy. On the streets, it only gets about 12 mpg, while highway fuel usage is rated at 16 mpg. Still, for what you’re getting, it’s not a bad trade-off.

So, if your budget for a reliable used pickup truck is in the $15,000 range, we at Faitless Motors suggest you take a look at some the trucks we believe will provide you with a good vehicle for the money. Our truck inventory is constantly changing so we recommend you stop in and check them out. Our family operated dealship provides excellent values on all our pre-owned vehicles, and our dedicated team is always ready to help our customers find the vehicle that best fits their needs, at an affordable price. And whether you have good credit, poor credit, or no credit at all, our financial team will help you secure the financing option that works best for you. We’re conveniently located at 427 Lincoln Highway in nearby Fairless Hills, or call us at 855-560-9740.




Use Your Tax Refund as A Down Payment To Replace Your Old Car

Use Your Tax Refund as A Down Payment To Replace Your Old Car

Having an older car isn’t necessarily a bad thing. However, if your days are riddled with worry about whether your car is going to take you from point A to point B without breaking down, or you’re spending hundreds each month on repairs, it’s time to upgrade to a better vehicle. For the average American living paycheck to paycheck, it may be challenging to come up with a down payment for that new car you need. Fortunately, this time of year there is the option of using a tax refund as a down payment for your purchase.

Average Tax Refund Amounts
According to the Internal Revenue Service, the average tax refund amount is listed as $3,120. This figure may be more or less depending on factors such as the previous year’s earnings and tax credits available. The question that most tax filers have is how to better capitalize on this small financial windfall. In other words, how can you put this money to work for you?

From investments to home down payments, new appliance upgrades, to higher education, the list goes on and on. However, if you’re battling with securing a dependable vehicle to take you to and from work every day, using a tax refund as a down payment is a practical choice.

Buy Used Cars at A Dealer Vs. A Private Owner
Sure, you may be tempted to pay cash for a car found on Craigslist or from a similar source. The idea of not having a car payment for years to come is an appealing one; we agree. Nonetheless, in most cases when a used car is purchased from a private owner, there is no recourse if the car breaks down within a few days of spending your hard-earned tax dollars. On the other hand, cars that are sold from highly reputable dealerships like Fairless Motors, are carefully screened and inspected for quality, performance and reliability.

You can also benefit from the following:
Warranties – Different used car dealers may offer personalized warranties, so if the car breaks down during the warranty period, the opportunity is generally available to make amends through an exchange, repair or refund, depending on the contract signed. A private car owner offers no such guarantees when selling used vehicles.

Wide Selection of Inventory – Now that you finally have the funds and leeway to shop for a reliable vehicle, don’t miss out on a chance to get a real upgrade vs. settling for an outdated car, putting you back to square one after a while. It’s important for potential car buyers to complete due diligence and perform in-depth research before buying a car outright, especially if dealing with a private seller. Don’t make the rookie mistake of blowing your tax dollars on a “lemon”, possibly even featuring manufacturing defects.

Spare yourself the hassle by shopping with a reliable dealership who has your best interest at heart. Many of the used vehicles on sale at our dealership are just a few years old. Moreover, all the vehicles on the lot have been checked carefully and test driven to verify that it’s safe to get behind the wheel. A cash purchase from a private owner may save you money today, but in the long run, it could wind up costing you much more.

Improve Your Credit – If you have bad or no credit at all, taking out a car loan is one of the easiest ways to build or improve your credit over time. The key is making the payments on time. Many of our shoppers come in discouraged about their credit situation – and walk away with a renewed lease on life.

With a new car loan, you get the option to correct past financial mistakes or start building a more secure financial future. In a world that runs on credit ratings, Fairless Motors will often approve applicants with bad credit, even if you’ve been turned down elsewhere. So, whether you’ve been plagued by a bankruptcy, missed payments or other negative records on your credit report, we look at life through the windshield, not the rearview mirror.

Added Bonuses
As mentioned earlier, all our vehicles are carefully screened. As a promise to you, all the cars on the lot have undergone:

• A Series of Test Drives
• Complete Inspections
• Paint-Less Dent Repair (If Applicable)
• Professional Detailing
• Service and Maintenance
You will also get a complimentary Carfax or AutoCheck vehicle history report.

Types Of Cars On The Lot
Come in to see our top-of-the-line pre-owned vehicles, including:
• Acura
• Audi
• Cadillac
• Ford
• Lexus
• Mercedes-Benz
• Nissan
• Toyota
• Volkswagen
Get all your favorites at a fair price!

Shift The Gears In Your Favor
This tax refund season, make a sound financial decision to spend your money wisely on an essential tool that will help move you forward. A reliable vehicle is not a luxury, it’s a practical way to complete day to day activities in less time and with fewer frustrations.

In Philadelphia, for example, the bus or subway lines are always available. However, a private and reliable vehicle provides the option to get from point A to B faster, easier, and in more comfort. Whether you’re a single professional or a family of four, Fairless Motors is driven to help our neighbors and friends experience the delights of car ownership, for less.

Accelerate Your Goals
To further leverage the current funds received from a tax refund, also consider making a bigger down payment to lower the interest rates or decrease the monthly notes due.

Get Back On The Road Again
Go through life with confidence and fearless independence behind the wheels of a stylish and comfortable pre-owned vehicle. Fairless Motors is a used car dealership based in Fair Hills, PA, and has been serving customers in Pennsylvania and New Jersey for more than 25 years. When you come into our dealership, there are no pushy salesmen on our lot. You’re in the driver’s seat at all times. Give us a call or stop in and leisurely browse through our extensive inventory and get answers to any questions you may have. We are conveniently located at 435 Lincoln Highway in Fairless Hills; our number is 855 560-9740.


 In 1989, FICO (Fair Isaac Corporation, formerly Fair, Isaac, and Company) debuted their credit score system. This is the system that is employed by the majority of banks and creditors today, and the basis of its findings comes from information pulled from the country’s three credit bureaus: Equifax, TransUnion, and Experian. The mere mention of a credit score check is enough to inspire dread in many Americans, even if you have reason to believe yours is in good condition.

This is understandable, given that a poor credit score can affect your ability to secure loans, get a mortgage, and more. However, there are misleading credit score myths circulating, which only make FICO’s system even more intimidating. Here are the 6 most common misconceptions, and the truths behind them.

Myth #1: Checking Your Credit Score Will Affect Your Rating in The Future.

This one can prevent plenty of would-be borrowers from checking their credit scores, but it’s not necessarily true. Two kinds of credit checks are available. One type, known as a hard inquiry, does take a small amount of points away from your credit score, and is activated whenever a lender acquires your report. This may be performed when applying for a credit card or a loan from a bank.

Soft inquiries, on the other hand, make no impact on your rating. These are typically performed as an overall background check, such as if you apply for a job or pre-approved loans. Checking your own credit score also falls into the soft inquiry category and leaves your rating unaffected, no matter how often you check it.

Myth #2. There Is Only One Credit Score: FICO’s.

Yes, FICO is generally the most well-known credit score system, but it’s not the single, most authentic rating. In fact, there are different scoring models set in place by the credit bureaus, and there are unique ones for each industry (automobile insurance, mortgages etc.). The scoring criteria isn’t identical in one sector to another, and one lender may pull a different credit score to another.

This means you can’t predict the exact credit score a lender will apply to you with exact accuracy, though your level of risk is unlikely to vary greatly from one to another. If your score is close to a level’s cut-off point, it may slip a few points above or below. Building your rating and improving your level of risk will lead to a stronger rating across all scoring models.

Myth #3: My Score Dictates Whether I Receive Credit or Not.

Avoid getting too downhearted if your credit score drops far lower than you might like. A variety of circumstances can lead to a dip, affecting how well you manage your debts. A job loss, for example, may leave you temporarily without the necessary funds to cover your payments on loans, mortgage, etc., and result in a rating decrease. Perhaps you fall ill, become a parent, or have your hours at work reduced. Any and all of these will affect your financial situation and credit score.

However, lenders base their decision on more than your credit score. They will look at the amount of debt you currently have, employment history, and credit background. Even if you have a low score, the lender may well still be willing to extend you a loan. In the case of car loans, for instance, there are dealerships that will offer loans to all drivers, no matter what their credit rating, as long as they have sufficient income to make the required payments.

Myth #4: Credit Scores Take Years to Improve.

When you start building your credit rating, you may expect to see an instant change in your score and may become frustrated when it remains the same. Your credit score echoes your credit-related activities over a specific period of time and will rise or fall based on changes on your own credit report. Any hard inquiries performed will be added to the report right away and can make a few points difference to your rating in a short time. However, credit card companies tend to provide updated data to credit bureaus every 30 days or so, and the majority of ratings can be refreshed by as many as 20 points within three months.

Checking on a regular basis, perhaps once a month, will give you a fair idea of your rating.  You certainly should not have to wait months or years to see a positive change.

Myth #5: Credit Cards Are the Best Way to Build Your Credit Score.

Having a credit card and making your payments on time each month can help you improve your credit rating, but it’s not the only way, nor should you rely on multiple ones to do the job. Your credit score will benefit more from having various kinds of credit in your name, and different ones carry different weight. For example, a car loan or a mortgage (known as installment loans) can be more influential for your rating than several credit cards.

Try to get a few different types of credit on your report and be sure to make your payments on time. This will show that you can handle diverse debts with varying payment criteria.

Myth #6: Your Income Appears on Your Credit Report, So It Affects Your Chances of Securing A Loan.

Your income is not listed on your credit report. Your earnings only impact your score if you cannot afford to make your payments, which may happen if you take on more debt than you can handle. Lenders may estimate your income, but they will not be able to see your earnings just by checking the report itself. Provided you continue to make payments on your debts, potential lenders will have no reason to assume you cannot manage the loan you’re applying for.

Having a low credit score versus a god credit score, or one somewhere in between, will certainly have a significant impact on future financing. That is exactly why it’s vital to understand these credit score myths; to ensure you have a stronger grasp of how credit systems differences may affect your ability to secure loans. There’s no need to be intimidated or overwhelmed by them. The more you understand about your credit score, the better you will be able to manage it.

At Fairless Motors, we understand how difficult it can be to get an auto loan with low credit scores, which is why we want to guide you through the process of securing the financing you deserve, regardless of your credit score. After deciding on the right financing plan, we’ll go over our extensive inventory of quality pre-owned vehicles to match you with the right car or truck at an affordable price. We’ll take you through the process that ends with you driving home happy behind the wheel of your next used car.

6 Common Myths About Auto Loans

Most people, when purchasing a new auto, end up borrowing at least part of the money from a bank, credit union, or other financial institution. For some, this process can be filled with mystery and uncertainty. In some cases, a lack of knowledge about the auto loan process can even result in a choice to put off purchasing a new vehicle altogether.

Here are some common myths about auto loans. By understanding the truth about auto loans, you will be empowered to purchase the best vehicle for your situation, on terms that you are comfortable with.

1.    The Cost of a Loan is Too High to Pursue One

Many people believe that, by the time they pay off the loan, they will have paid so much in interest and fees that the whole thing will not be worth it. Nothing could be further from the truth!

While it is true that you will pay for a loan—after all, the bank or lending institution has to show some return on the money it allows you to use—the truth is that the cost of a loan is not usually going to be very high. This is especially true now that the Internet has allowed consumers to shop around for loans: the more lenders you have access to, the better your chances of landing a great deal on a loan.

2.    I Am Limited to Local Lenders

It used to be that getting a loan meant you went to the local bank (or credit union) and talked to someone about your credit. Your options were pretty much limited to those financial institutions within a reasonable distance of where you lived. This limited selection also meant that you would likely pay more for your loan—less competition for your business meant that lenders could charge more.

With today’s technology, this is not the case. With just a few minutes on the Internet, you can apply for loans from lenders across the country. This means more options for you, and a better lending experience overall. And of course, increased competition for your business means you are going to see more favorable loan terms.

3.    I Won’t Ever Qualify

It used to be a bit of a challenge to get a good loan unless you already had stellar credit. Today, this is not necessarily the case. While having great credit is always better than having poor credit, the reality of the situation is that the larger number of potential lenders (all vying for your business) means that more lenders will be willing to offer you credit than ever before.

Don’t let a non-existent (or poor) credit history stop you from applying. You will be surprised at how many options you have.

4.    No Lenders Want My Business

This myth is similar to the one above. Perhaps you have had a rough patch over the last few years, and your credit score is not as stellar as you would like it to be. Or, perhaps you have never borrowed before, and you feel like you don’t have the necessary track record to be attractive to lenders.

Keep in mind that with lending aggregate sites, you can fill out a single loan application and submit it to thousands of lenders across the country. With these kinds of numbers, it is pretty much a given that you’ll find a bank or other financial institution that is willing (and even wanting) to do business with you. So, give it a try, and see what kind of results you get!

5.    I Have to Pay Extra Each Month

Some consumers feel that it is a must that they pay off their loan early. Whether this is due to a common misconception about how credit works, or just a desire to be debt-free, this is a myth that must be addressed.

While it’s usually a good thing to pay off your loan early, it won’t hurt your credit to stick to the terms of the loan. Lenders want to see that you are responsible, and making your payments on time shows just that. Paying off a loan early may give you some additional peace of mind, but taking the full term of the loan can actually help you build your credit score.

Even if you do decide to pay off the loan early, there’s nothing wrong with taking a few years (as opposed to the full term of the loan) to get it done. You’ll show lenders that you are capable of managing your finances on an ongoing basis, and you’ll find that your credit score goes up as a result.

6.    My Credit Score Will Take a Long Time to Fix

If you have suffered some damage to your credit—such as by making a few payments late, or even defaulting on a loan—you may be of the opinion that it is going to take you too long to get things rolling again. The truth of the matter is, repairing your credit can be done much more quickly than you may believe.

Lenders understand that life happens sometimes, so a few late payments won’t really damage your score all that much, so long as they have been preceded and followed by several on time payments. And, as the saying goes, “A journey of a thousand miles begins with a single step.” So don’t put off repairing your credit, as you’ll have to start some time.

Don’t Let Credit Myths Dissuade You from Applying

Long story short, getting credit is not nearly as difficult as many people may believe. There are thousands and thousands of lenders out there looking for consumers with whom they may do business. And, with today’s technology, it’s easy to apply.

And, once you have a loan, you don’t have to put nearly as much time and effort into paying down the loan as you may have thought. Just make your regular payments, one month at a time, and watch your credit score rise.


Why You Should Always Buy Used Cars Directly from a Dealership


Why You Should Always Buy Used Cars Directly from a Dealership

Some people prefer to buy used cars rather than brand-new cars. While there are arguments both for and against this practice, at the end of the day some consumers will always look to purchase used cars. To be sure, there can be some very good upsides to purchasing a used car. While it may require a significant amount of checking around, you can often find very good deals on a used car. Depending on factors such as who the prior owner was, how frequently he or she had the car serviced, and what type of driving the car was primarily used for, it is sometimes possible to get a car that is nearly as good as new for a significant amount less than you would otherwise pay.

That being said, many people are faced with the question of who should they buy a used car from. Whether purchasing from a private individual, an online clearance site, or some other entity, the question of where you purchase your used car is one that should be approached with caution. The fact of the matter is, there are significant risks involved in purchasing a used car from anywhere besides a dealership. Here are a few things to consider when you are buying a used car, and a few reasons why you should only buy your used car from a reputable used car dealership.

Dealerships Have a Reputation to Uphold

Perhaps one of the biggest things you should consider when you are buying a used car is what may happen in the event that the car proves to have some problems. While many used cars are in perfectly fine shape, there are also many that have hidden issues. These issues can show up shortly after the sale, or father down the road, and could cost you serious cash. if you cannot get help from the party that sold you the vehicle.

If you purchased your used vehicle from a private party, you may find that he or she is unwilling to help you out, as most used cars are considered to be sold “as is,” unless stipulated otherwise in writing. Even if a mechanic’s inspection shows no apparent problems, repair issues can develop anytime. On the other hand, dealerships are not as quick to spurn the requests of their customers. For one thing, they have a reputation to uphold. They are aware that people talk to each other, and that a disgruntled customer will spread word of his or her experience around. As such, they are usually much more willing to assist customers with repairs for conditions that existed when the vehicle was sold. In addition, most reputable used car dealership will provide their customers with a warranty covering some, or all, of the vehicle’s components for a specified number of months or miles. And many dealers offer their customers the option to purchase extended warranties.

Dealerships Have Experience in Maintaining and Evaluating Cars

Another thing to keep in mind is the difficulty in evaluating a car. Many private party sellers may have no intention of selling you a used car that they know is on the verge of breaking down, but they may simply be unaware of hidden issues. On the other hand, dealerships know how to examine the car and determine whether something may be about to cause problems. They will carefully inspect the car they are selling and make sure that any obvious defects have been repaired before they sell it to you. Remember, they want to establish a strong relationship with you, and they want to earn your future business, so they’re going to do everything they can to be sure that the used vehicle they sell you is mechanically sound.

You Always Know Where to Find Your Dealership

If you purchase a car from a private party, and the car turns out to be a lemon, you may find that the seller is gone when you go back to ask him or her for help. This is especially true in the case of someone who is selling their possessions in anticipation of a move, or a private party in the military who is getting ready to switch duty stations. Whatever the story, you may find that the private party seller is nowhere to be found just when you need him or her. In contrast, dealerships are staples of the communities in which they are located. Many of them have been in operation for decades, and they are not likely to vanish anytime soon. So, if you have any issues, you know just where to go to find them.

Dealerships Can Help with Financing and Reduce the Hassle of Selling Your Old Vehicle

Finally, when you purchase a used car there is a good chance you will need to take out a loan to do so. Very few private sellers are going to be willing or able to finance your purchase. On the other hand, dealerships frequently have the ability to help you drive away in the used car of your choice, even if you don’t have the cash on hand.

Finally, if you buy your car from a private party, that means you’ll still have to figure out a way to sell your current vehicle. Running an ad, fielding calls, and haggling over the price can be a real headache. On the other hand, if you purchase from a dealership, chances are very good that you’ll be able to trade in your old set of wheels, meaning one less issue for you to deal with. Buying a used car fro a private party might cost a little less than from a dealer, but buying from an established dealership will give you peace of mind and confidence in your new vehicle.

Fairless Motors has been family owned and operated for over 30 years, and we’re here to help you find a reliable, affordable used car or truck for all your driving needs. When you shop for a vehicle at Fairless Motors, you’ll be greeted by an amazing sales team that provides a no-pressure buying experience. Every vehicle in our inventory has received a complete inspection, professional detail, paint-less dent repair, if needed, and has been serviced and test-driven to ensure quality and capability. You’ll receive a Carfax or AutoCheck vehicle history report with any vehicle, so you can always shop and drive with confidence.

Financing options are available for all types of credit, with APR rates starting as low as 1.9%. When you come to Fairless Motors for a used car or truck, you’re buying a quality vehicle that you know is worth the price on the sticker. We offer a fast-track to credit approval with our simple and secure online finance application; simply fill out the online form and you’ll receive a personalized auto loan quote in minutes. We’ll accept your trade-in vehicle as well, and you can use our Value Your Trade tool to see how much you could get for your old car, and how much you could offset the cost of your next vehicle. Whether you have good credit or poor credit, Fairless Motors’ financial team will help you create the financing options that work best for you.

How Should You Inspect a Used Car?

How Should You Inspect a Used Car?

Buying a used car is common, but knowing what you are buying when looking at used cars is not always easy. A lot of people try to hide issues with used cars by cleaning up the engine or getting a fresh car wash right before you come to look at it. This can make spotting issues a bit more difficult; however, if you know what you are looking for it can be a little bit easier. Here are some tips for inspecting the used car you are interested in, to help you decide if it would be a good buy or not.

First, Check the Exterior of the Car

Floodlights that surround used car lots are there for a reason. They are great at hiding minor imperfections or dings in the vehicle’s exterior. Try and look around the entire vehicle, top to bottom, under the bright sun. This gives you the best chances of noticing any problems with the exterior of the vehicle. Check the bumpers, look at all the glass for problems, make sure each of the door handles work, and look closely at the trim. Make sure everything that should be on the exterior of the vehicle is still firmly attached. It shows that the vehicle was better maintained than one that was left outside and ignored.

You also want to look at the vehicle from a distance of 10-15 feet. The tires should be round and even, and should look as though they have equal pressure in them. The vehicle should be level as it sits on the ground as well. If you notice one side of the car sits lower than the other, it could indicate an issue with the vehicle’s suspension. This can be an expensive fix, so get it checked before you buy.

Then, You Want to Look Thoroughly At the Interior

Now, it’s time for you to get into the car to check out the inside. First, you want to notice if there is any type of a smell. Burning oil has a very distinct smell, and could mean the car might have engine issues. Look around and see what condition the interior of the car is in. Are the pedals worn beyond the mileage of the vehicle? Is the headliner intact? Are the seats in good condition? Remember to look at all the components of the interior of the vehicle, keeping in mind the mileage. If the vehicle has lower miles, it should be in better condition than a vehicle with higher miles. Make sure to try out every button, lever, and option to make certain they work properly. This includes the sunroof, radio, heat and air conditioning, and things like cruise control when you take it for a test drive.

Make Sure to Check Under the Hood

Looking under the hood can be difficult for many. Those without a mechanic’s experience may struggle to have any idea what they are looking at, or looking for. If this is the case, bring a knowledgeable friend or relative with you, or take the vehicle to a mechanic to have them look over it for you. Many will do this for little or no cost. What you want to look for are signs of spills or leaks, fluids that do not look right, hoses and belts that look worn or are not connected, and the condition of the battery. The fluids should be clear (not cloudy) and full.

Hoses should not have cracks in them, and belts should be taut. If you notice duct tape anywhere in the engine area, beware. There are better ways of holding things together within the engine compartment than by using tape. Make sure to check fluid levels and colors on a white paper towel. That way, as you wipe off the dipstick, you can tell if any of the fluids are the wrong color. And make sure the battery terminals are not corroded or showing signs of wear.

Finally, Look Beneath the Car for Signs of Trouble

When you are done with the outside, inside, and under the hood, you finally need to look beneath the vehicle. This is where most people do not take the time to clean, so you can tell a lot about the vehicle by looking here. Look for signs of drips first. This can be anything from gas to brake fluid, oil, antifreeze, transmission fluid, or even windshield washer fluid. If you see any on the ground beneath the vehicle, check the corresponding spots to see if this vehicle was dripping them, or if it was another vehicle parked there before.

You should also feel along the tailpipe (only if it is cool) for any type of residue. This can tell you if anything was burning off the engine that may have been cleaned up, so it was harder to see from above. Burning oil can easily build up in this area, making it easy to spot when you lie down beneath the vehicle to inspect it. You also want to inspect the structures beneath the vehicle. They should be relatively clean and not cracked or broken. So long as everything here checks out, it is then time to take the vehicle out for a good test drive. If you can go without the dealer or owner, that is ideal, since you can test the vehicle more extensively this way.

Make sure that you use your senses when it comes to inspecting a used car, and while out on your test drive. If you notice something off, trust your gut. Used cars are likely going to have a couple of issues, but that does not mean the vehicle is a bad buy. Some issues are very minor and can easily be fixed, but may allow you to ask for some wiggle room in the asking price. Listen for noises, pay attention to smells, and do not ignore any leaks you notice. If you can do that, you will do well in your used car purchase.

At Fairless Motors, every car and truck comes with a Carfax or AutoCheck vehicle history report, so you can always shop and drive with confidence. Each car on our lot has received a complete inspection, professional detail, paintless dent repair (if needed), and has been serviced and test-driven to ensure quality and reliability. When you come to Fairless Motors for a used car, you’re buying a quality vehicle that you know is worth the price on the sticker.

Fairless Motors provides outstanding service in helping you find an auto loan thanks to our outstanding Finance Department. We offer a fast-track to credit approval with our simple and secure online finance application; simply fill out the online form and you’ll receive a personalized auto loan quote in minutes. We’ll accept your trade-in vehicle as well, as you can use our Value Your Trade tool to see how much you could get for your old car, and how much you could offset the cost of your next vehicle. Whether you have excellent credit or poor credit, Fairless Motors’ financial team will help you create the financing options you need, and we even have APR rates starting as low as 1.9%.

Stop in to our convenient family operated dealership at 435 Lincoln Hwy, Fairless Hills, PA, or call us at 855-560-9740 to check out our extensive inventory of late-model pre-owned cars and trucks. Our staff will help you find the vehicle that best fits your needs and budget.