 TITLE: What Is a Vehicle History Report and Do You Need One? CONTENT: Make Sure Your Credit Is Ready for a Car Purchase\n-------------------------------------------------\nIf you're planning to finance your vehicle purchase, another way to maximize your savings over the life of your car is to build a good credit history. Auto loans are secured by the vehicle as collateral, so they tend to charge lower interest rates than, say, personal loans and other unsecured financing options.\nHowever, bad credit could result in an interest rate in the double digits—even as high as 20% or more. Good credit typically starts at a 670 FICO® Score☉ , but the higher yours is, the better.\nCheck your credit score before you start the car-buying process. If it's not where you want it to be, take some time to improve your credit. Depending on how much you increase your score, you could end up saving hundreds or thousands of dollars over the life of your auto loan. END