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What Determines Your Credit Score?

Credit score
When you’re buying a car, a lot rests on your credit score. This mysterious number heavily influences your financing options and how much you’ll ultimately pay for the vehicle you bring home. Knowing what factors influence your credit score will allow you to take steps to improving it before your next car purchase.
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Payment History


This makes up a large portion of your score. Making payments on your credit cards, bills, and loans on time will positively impact the score, whereas late payments negatively impact it.


Debts Owed


You want to owe less money on credit cards, student loans, car loans, and such; high amounts of debt negatively impact your score.


Credit History Length


The longer you’ve had lines of credit open and regularly utilized them, the better. New credit accounts lower your average history length and thus lower your score.


Types of Credit


Having a mix of types of credit can give a small boost to your score. ​ 

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