 TITLE: When Is the Best Time to Buy a Car? CONTENT: Know Where Your Credit Stands\n-----------------------------\nIf you're planning to borrow money to finance your new vehicle, it's crucial that you take the time beforehand to understand your credit and, if necessary, take steps to improve it. Each lender is different and there's no universal minimum credit score for car loans, but a higher score will generally make it easier to score a low interest rate on your new loan.\nStart by checking your credit score to see where you stand. A FICO® Score☉ of 670 or higher is considered good, and scores in the upper 700s or higher will give you an even better shot at a low interest rate.\nIf your score needs some work, check your credit report to find out which areas you can address. For example, you may have some past-due payments you need to get caught up on, or you might need to pay down some of your credit card balances to reduce your credit utilization rate.\nWhile you're looking for ways to improve, also check your credit report for information that's inaccurate. You can dispute incorrect or fraudulent information, which may be removed or revised depending on the outcome of the dispute.\nOther ways to improve your credit history include:\n*   Continuing to make all payments on time, and keeping your credit card balances as low as possible\n*   Keeping old credit card accounts open and active\n*   If a family member has a credit card with a positive payment history, asking them to add you as an authorized user could help\n*   Avoiding applications for new credit unless it's necessary\n*   Using Experian Boost™† to get credit for utility and phone payments\nBuilding your credit score can take time, but even a modest improvement can result in a lot of savings. If you don't have time to improve your credit before you apply for a car loan, keep in mind that you can refinance the loan later after you've had a chance to increase your credit score. END