Invest in your Credit. It can produce considerable savings.
Let’s take a better look at the price you may already be paying for the cost of bad credit. Below are just a few examples: Automobile financing making payments on a car do with lousy credit. Well, if the answer is YES, you could be paying between $5,000 and $9,000 more in added interest in addition to interest-only payments for the first 3 to 4 years.
Lets take a look at an example:
$35,000 Car Paid over 60 Months no money down:
| Credit Status | The Rate | The Payment | Total Cost of % |
| Perfect | 0.0% | 583.33 | $0.00 |
Cost of Bad Credit
| Credit Status | The Rate | The Payment | Total Cost of % |
| Mildly Damaged | 7.9% | $708.00 | $7480.00 |
| Damaged | 18.9% | $905.99 | $18,359.67 |
Lets look at a mortgage payment
Purchased amount $200,000 Let take a good look: 30-year mortgage at $200.000.
| Credit Status | The Rate | The Payment | Total Cost of % |
| Perfect | 5.4% | $1,123.06 | $204,302.17 |
Cost of Bad Credit
| Credit Status | The Rate | The Payment | Total Cost of % |
| Mildly Damaged | 7.25% | $1,364.35 | $291,166.92 |
| Damaged | 9.25% | $1,645.35 | $392,326.31 |