Tyndall Federal Credit Union

For a lot of people, buying a brand new car is a luxury. While for others, it’s an unavoidable necessity. But one thing’s for certain: everyone wants the best deals possible when it comes to buying a new car.  Unfortunately—whether you’re buying a new car or a used one— the average cost of a vehicle has hit a record high of $35,631 . That’s four times more than what the average cost was just five years ago. Considering this, the best way to purchase a car—secondhand or brand new—is to take out a loan. If you’ve never taken out a loan for a car before, here are a couple of things you should keep in mind: Make Sure You Have A Good Credit History First things first, you need to make sure that your credit history is superb. With 44% of Americans still paying off auto loans , loan providers are more likely than ever to reject your loan request if they can’t prove that you can pay off the debt.  The score—determined by FICO (Fair Isaac Corporation)—should be a...

It’s easy to get lost in the weeds when applying for a home loan for the first time. The chances are that you’ll get bogged down with the many technical difficulties, before eventually giving up. This is why it’s recommended that you start with the basics. If you want to qualify as a deserving candidate, you’ll have to convince the lender of your creditworthiness.  These 5 Cs will teach you the characteristics that will prepare you for your new financial freedom. 1.  Character Your credit score  is a measure of your character in this scenario. In order to rank high for these metrics, you need to ensure that your credit reports are in excellent shape.  A lender will inspect these reports, which contain information about your credit accounts and transactions.  These accounts can be credit cards, auto loans, student loans, etc. Your credit score will reflect your performance in these reports. In order to have a good standing in these accoun...