Whether you have found a new or used car here in North Charleston, or you are still searching, you are probably giving the financing process a lot of thought. When you finance with Crews Subaru of Charleston, you gain the satisfaction of knowing that you are going into business with a reputable, community-focused dealership who works with some reliable financing institutions around the area. However, while financing with us can be simple and convenient, a strong hurdle which people consider is the question of their credit score and where it stands. So, let us go over the top five things you need to know before you apply for credit approval here at Crews Subaru of Charleston. Our dealership is located about a half hour outside of West Ashley on Rivers Avenue in North Charleston SC.

Top Five Things You Need to Know Before Applying for Credit Approval

  1. Know the Vehicle You Want: Before moving forward with the credit application, it is helpful to know exactly which car you want from our North Charleston dealership near Summerville, or have your list narrowed down to the top two or three. Credit is obtained through credit bureaus in what is referred to as a "hard pull," which may negatively impact your credit score if done more than once. If you are still shopping around for dealerships in the area, a hard pull of your credit is not advised more than once.
  2. Know Your Credit Rating/History: Your credit rating is one of the most important aspects in determining your eligibility for certain auto loan or lease agreements, thus, it is essential that you know where your credit stands. This information can be obtained through Equifax, Experian, or TransUnion, each of which is required to provide a free credit report every year.
  3. Know Your Debts (if applicable): Many unpaid or unsettled debts; from student loans, hospitals, or credit cards; can and will negatively impact your credit score in the long run. Make sure that you pay off what outstanding debts you can, and that any further debt is reduced or on its way to resolution.
  4. Have Documentation Ready: If your credit score is currently low, but you are currently in good standing debt-wise, you may be asked by our lending institutions to provide proof of debt resolution or settlement.
  5. Determine Your Budget: If your credit is in good standing, then you will likely qualify for some low-interest loan or lease agreements, which will make financing near Hanahan more affordable in the long run. However, in any case, you should know what your monthly budget requires, the total cost of the vehicle you want, and how your monthly payments will affect this budget moving forward.

Get Started Today!

While all of these processes may seem time-consuming, they are essential so that you may know exactly what you are getting yourself into before you test drive and start this important step in your life. Once you know exactly what awaits, schedule a test drive and come see us here at Crews Subaru of Charleston, located a half hour outside of Mount Pleasant. See you soon!