subject: Honda of Maryland- Credit and Car Insurance [print this page] Honda of Maryland- Credit and Car Insurance
There are many things to consider when shopping for a car or truck at area Honda dealers. While most people focus primarily on finding the best car at the best price, many potential buyers fail to take a look at their credit before shopping around. Consumers are aware of the importance of good credit in order to qualify for financing, however many overlook the impact credit has on their car insurance premiums. The staff at Honda of Maryland encourage drivers to test their credit before taking a test drive.
What does your credit say to insurance companies?
You may be wondering why your credit will affect how much you have to pay to insure your vehicle. The fact of the matter is this, lenders are not the only people who make judgments based on your past credit management. Baltimore Honda dealers remind drivers that a credit score represents how much risk a business assumes when doing business with you. In regards to car insurance premiums, insurance providers may assume a person with poor credit also has difficulty making responsible decisions in other areas of their life. They may decide this increases their liability therefore resulting in higher insurance premiums.
How to improve your credit.
Before you start shopping at Honda dealerships, take a moment to check your credit score. If your score is low, it may be wise to take a short break in your car buying quest to improve your credit score. If you have a habit of missing due dates for payments or carry a high level of debt, you can make adjustments in how you are managing your money to improve your credit. In doing so you will not only see reduced car insurance premiums but better financing terms as well.
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