With the price of new and pre-owned vehicles reaching new heights, you're going to need an auto loan if you want one from Palm Springs Hyundai. When you've picked the right drive, you can walk into our Finance Department where our money experts will create an installment plan that meets your budget. However, if you want to get the best deal on financing, you can do the following to prepare for it.

Start with the Your Credit Score

Your credit score stands out as the most important factor in determining the terms that you get in an auto loan. It runs between 300 to 850 and reveals to lenders at a glance how you deal with financial obligations.

·         A number close to 800 or more is excellent and rewards you with the best interest rate and payment options.

·         A number at 650 or less is considered poor and may make it difficult for you to get any kind of a loan.

You can usually get your credit score for free from your credit card company, bank, credit union, or lender. Your can also get it for free from Credit Karma after you register.

Reviewing Your Credit Report

Your credit score comes from your credit report, which compiles your financial history into one document. It contains information about your credit accounts, their types and terms, what you owe, and your payment history. You can obtain a free credit report once a year from each of the major reporting bureaus: Equifax, Experian, or TransUnion. It is also available for free from Credit Karma or AnnualCreditReport.com.


Palm Springs Hyundai

3919 E. Palm Canyon Drive
Directions Palm Springs, CA 92264

  • Sales: (760) 202-8888
  • Service: (760) 202-8888
  • Parts: (760) 202-8888


  • Monday 8:00AM - 6:00PM
  • Tuesday 8:00AM - 6:00PM
  • Wednesday 8:00AM - 6:00PM
  • Thursday 8:00AM - 6:00PM
  • Friday 8:00AM - 6:00PM
  • Saturday 8:00AM - 6:00PM
  • Sunday 10:00AM-5:00PM

Look for the following information in your report:

·         Any errors, especially with creditor names and addresses, debts that you owe, account numbers, and the amounts that you pay and their dates.

·         Unrecognized accounts, which may show that someone has fraudulently opened an account in your name.

·         Inquiries on your account by companies who pulled your report. If there are any that you don't recognize, this could indicate fraud.

·         Bankruptcies, foreclosures, civil suits, judgments, and liens have negative effects on your credit.

If you find any issues, report them to all three credit bureaus immediately. By law, they must respond to your inquiry in writing. If they make a change, they must also issue you a new credit report for free.

Improving Your Credit

Whether you have excellent or poor credit, improving it will get you better auto financing terms. You want to start this process as far in advance of your car buying as possible. It may take many months for your strategies to take effect. Here are a few tips.

1.       Pay your bills on time. This will have the biggest effect on your score because payment history comprises 35 percent. If you have trouble doing this, sign up for automatic payments at your bank.

2.       Use less than 30 percent of your available credit. Your credit utilization score makes up 30 percent of your score. Retiring any debt and paying your credit card bills in full each month can help you achieve this. You can also go cash only by putting your credit cards away until you qualify for an auto loan.

3.       Keep credit accounts open if they don't cost you anything. The age of your accounts comprises 15 percent of your score with older ones carrying more weight.

4.       If you don't have any credit history, you can build it by getting a secured credit card. This acts like a debit card in that you have to deposit an amount, which is then used whenever you use the card. You can also get a co-signer when applying for credit. However, he or she must understand that he or she is responsible for the debt if you do not pay.

Getting Pre-Approved

One of the best ways you can prep for an auto loan is by getting pre-approved for one. You can fill out our convenient online form, which then allows us to delve into your credit history. We'll then get back to you with the amount you qualify for. You can then confine your shopping to vehicles that fit your price range.

If you have any questions or want to get started on buying a car with a loan, please contact us at Palm Spring Hyundai.