Your credit score plays a big role in your ability to buy a car—but did you know that buying a car can also improve your credit? Whether you're starting from scratch, rebuilding after setbacks, or just looking to boost your score, financing through Homer Skelton Hyundai can be a positive step forward.
Here’s how the process works—and how we help buyers in Olive Branch
use auto loans to strengthen their credit over time.
📉 The Initial Impact: A Small Dip Is Normal
When you apply for financing, lenders perform a “hard inquiry” on your credit report. This might lower your score slightly—typically by 5 to 10 points—but it’s temporary and a standard part of any loan process.
Once you begin making on-time payments, you’ll likely see your score rebound quickly—and even increase beyond your starting point.
📈 The Long-Term Gain: Building a Positive Payment History
Payment history makes up the largest portion of your credit score—about 35%. Making consistent, on-time car payments shows lenders you're responsible with credit.
Benefits of a well-managed auto loan:
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Builds trust with future lenders
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Improves your ability to qualify for mortgages, credit cards, and lower-interest loans
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Increases your total credit mix, which also boosts your score
💡 Want to Maximize the Credit Boost? Do This:
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Make all payments on time – Set up autopay if possible.
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Choose a manageable loan amount – Don’t overextend your budget.
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Avoid skipping or deferring payments – Even if your lender allows it, it could delay your credit-building progress.
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Don’t open too many new accounts – Focus on managing one account well.
🧰 We Work With All Credit Types
At Homer Skelton Hyundai, we partner with lenders who specialize in:
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First-time buyers with no credit history
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Buyers with low credit scores
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People working to rebuild after bankruptcy, divorce, or missed payments
We’ll help you find a plan that works for today—and benefits your future.
✅ Let a Car Loan Help You Build a Better Credit Future
Buying a car isn’t just a vehicle upgrade—it’s a financial opportunity. At Homer Skelton Hyundai, we don’t just sell cars—we help build credit stories.
Visit me or apply online to get started. Let’s get you approved, on the road, and on the path to stronger credit.
Barry Hildreth
(901) 277-8228
Homer Skelton Hyundai
