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The Shabana Motors Auto Blog

Understanding Your Credit Report Before a Car Purchase

Posted on Wed, Sep 14, 2016 @ 07:30 AM

Credit reports are an essential part of your financial picture. As nice as it would be to opt out of credit scores, good debt, bad debt and collections—it’s impossible—especially if you want to rent, buy a house or get one of many types of loans. In fact, credit is necessary for many everyday things, including the purchase of a car. Before you apply for a car loan, it’s important to know your what your credit report looks like, and how to interpret the information.

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Tags: Credit

Creating a Bill Schedule to Avoid Repossession

Posted on Wed, Jun 29, 2016 @ 07:30 AM

Getting behind on your bills is a frustrating and stressful issue. Many Hpustonians live paycheck to paycheck, leaving very little room for unforeseen circumstances. It also means if you make a few poor choices, you can easily find yourself in the hole. While there is a lot of information out there about fixing your credit, saving over the long-term or creating a budget, sometimes it’s best to start at the root of the problem—managing your bills. Your budget, savings and credit all are secondary to making sure you know what your bills you are, and having a workable strategy to get them paid. For vehicle owners, this is imperative, especially if you’re at risk of repossession. For anyone who relies on a car for transportation, it's more important than ever to get and keep things under control. Here are some tips for managing your bills so you can focus on the bigger financial picture and start to live your life a little more stress-free.

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Tags: Credit

Little Known Ways to Build Your Emergency Fund

Posted on Wed, Jun 22, 2016 @ 07:30 AM

It’s understandable why it’s a challenge to create an emergency fund in today’s world. Many people live paycheck to paycheck, and daily needs consume money quickly. Even though it may seem impossible, establishing an emergency fund can be done. All it takes is some strict budgetary dieting and learning a few little-known tricks. No one wants to get stuck in a bad situation—like not being able to buy a car when you need one, or not to be able to fix something on a car you require to get to and from work. If you’re ready to take control of setting some money aside for when something emergent occurs, here are some steps you can take.

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Tags: Car Financing, Credit

Finding a Bad Credit Car Loan With a New Job

Posted on Wed, May 18, 2016 @ 07:30 AM

Congratulations! You’ve finally secured that new job and are ready to buy a car. But wait—your credit score is still less than perfect and your brief job history has dealers turning you down. Worse, maybe the prospective car is the only way you can get to your new job. Isn’t there a dealership that will take a chance on you?

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Tags: Credit

Getting an Auto Loan on Social Security Income

Posted on Wed, Oct 14, 2015 @ 02:17 PM

You may ask yourself if you’re able to purchase a car when your sole income is social security. The answer is yes, given the right circumstances. Like any income, social security is a set amount of money that comes in each month, so as long as your budget can support it, there are dealers willing to finance someone on SSI (Social Security Income).

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Tags: Car Purchase, Credit

Asking Someone to Cosign a Loan: Find the Right Person

Posted on Wed, Sep 16, 2015 @ 07:30 AM

There are many reasons you may have to ask someone to cosign your auto loan.  You might have bad credit and can’t afford a high interest rate. Maybe you have no credit, and need someone to help get you started. Other reasons include low income, a short employment history or a prior repossession. No matter the why, it’s important to choose the right cosigner—and a few tips can help you make the best choice.

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Tags: Car Financing, Credit

How Important Is Your Credit Score?

Posted on Tue, Aug 12, 2014 @ 07:00 AM

We all know our credit score is important, but few actually understand why it is such a big deal. Nearly every adult’s financial life is heavily reliant on credit, making the health of your credit report extremely important. An understanding of how and why your credit score affects your financial life in noteworthy ways will give you increased motivation to improve and maintain your credit rating.

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Tags: Credit

How to Repair Bad Credit after Identify Theft

Posted on Fri, May 30, 2014 @ 07:00 AM

Identity theft can have a long term negative impact on all aspects of your life, especially your finances and credit report. The process of repairing bad credit in the wake of identity theft should start right away and be done with patience and persistence. 

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Tags: Credit

The Guide to Car Loan Credit Reports

Posted on Tue, Dec 03, 2013 @ 07:00 AM

Your credit report is going to be checked by the dealership or outside lender when you apply for a car loan. Not only should you be prepared in terms of knowing your current credit rating, you should also have a grasp on how the credit check process will go and what it could mean for your used car loan

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Tags: Credit

Is Your Credit History Affecting Your Auto Insurance Rates?

Posted on Fri, Oct 25, 2013 @ 07:00 AM

Car insurance is a financial agreement between you and the insurer, much like how your car loan is an agreement between you and your lender. Insurance companies look beyond your driving record and the kind of car being insured, and your credit score could be taken into consideration. Before purchasing insurance, understand how your credit score is affecting your auto insurance rates.

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Tags: Credit