 TITLE: 10 Things First-Time Car Buyers Need to Know CONTENT: 4\\. Improve Your Credit Score\n-----------------------------\nKnowing your credit score before you seek financing for your purchase will give you an idea of which loan terms you're likely to qualify for. Start by getting a copy of your credit report and checking to make sure it's accurate. Then check your credit score.\nHaving good to exceptional credit (which lenders generally consider a FICO® Score☉ of 700 or above) makes it easier to qualify for favorable loan terms. Consumers with the highest credit scores financing a new car pay $522 a month on average while those with the lowest credit scores pay $562 on average, a $40 a month difference, according to Experian data.\nIf your credit score isn't in that range, and you don't need the car right away, consider postponing your purchase. In the meantime, you can work to improve your credit score and potentially earn access to loans with lower interest rates, which will save you money.\nTo help improve your credit score, continue to pay all your bills on time, pay down your debt and reduce your credit utilization ratio. For a quick boost to your credit score, consider Experian Boost™† , a free service that adds your on-time utility and telecom bill payments to your credit history. END