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Understanding Your Credit Score

How to Go From High Risk to High Rolling

A credit score is your financial behavior, expressed as a number. They typically range from 350-800. The lower the score, the less likely it is that you will repay debt- or at least that’s the story the numbers tell. To banks, you are considered a bigger risk.  These numbers aren’t based on anything personal, like your job is, race, gender, sexual preference, or if you are single or dating many people- to the banks, you’re just a number.

This number is based on data culled from your financial footprint by FICO: what types of credit and debt do you have? Student loans, home mortgages, or credit cards. Then it looks at how often you make payments on time, how many accounts you have in good standing, your debt to available credit ratio, credit limits, length of credit history [...]

Winter Road Trip: Hot Springs!

Great Places to Soak a Short Road Trip from El Paso

There’s nothing quite like soaking in a warm pool of mineral water under star filled winter skies. And El Paso is a reasonable driving distance from several of these spas. From camping to retro-chic, there are places that fit your lifestyle and budget. Just make sure you have a great family car to get you there from Finn’s Discount Auto.

Faywood Hot Springs: This geothermal resort is in Southeast New Mexico, only 2 hours from El Paso. Take Highway 10 to Deming, New Mexico then turn north on 180 West. It’s a funky, rustic place with peacocks roaming the property and a small store that has marshmallows and other emergency provisions you may have forgotten. You can visit for the day, for… or stay overnight …You can rent a site for tent camping, hook up an [...]

Subprime Auto Loans Increasing Across the United States

Buy Here Pay Here Auto Dealers an Alternative to Banks

A lot is happening in the car market in the United States right now. General Motors just announced plant closings in Canada and the Midwest. They claim tariffs have cost them heavily, but also, that their sedans- like the Buick LaCrosse and Cadillac CT6, just aren’t selling. North Americans prefer SUV’s, hybrids, and trucks. In fact, across the board, new auto sales have fallen by 1 million vehicles since September 2017.

However, subprime auto loans for used cars are increasing nationwide. According to separate reports by both the Federal Reserve Bank of New York and TransUnion, subprime loans are up 10 percent from the third quarter of 2017. There are two main reasons for this. More lending institutions, such as banks, are making subprime auto loans. These include big names such as Wells  Fargo and Santander Consumer USA. However, due an uptick in defaults, [...]

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