This site was designed for the latest version of Chrome, Firefox, Safari, and Internet Explorer (version 10+). Some features may not work correctly in your browser. OK

Building Credit With an Auto Loan | Newport News, VA

For most consumers, figuring out how to pay for a new car can seem like a stressful ordeal, and for drivers with little credit history or poor credit history, getting a new car can seem even more daunting. However, it’s important to know that there are plenty of credit options available to drivers with either little credit history or less-than-ideal credit history. In fact, financing a car can be an excellent way to improve your credit profile. But what is a credit profile, and how does buying a new car make yours better?

What is credit, anyway?

When you start shopping for a car, chances are you will come across the term “credit score.” Everyone’s credit score is a composite of several factors, including credit history, existing lines of credit, existing debt, payment history, and various other numbers. Basically, a credit score is a number that lenders use to determine the risk they’re taking on when giving you a loan. Generally speaking, higher credit scores lead to things like lower monthly payments or less interest on a loan.

How is a credit score improved?

Individuals with little credit history or a history of late payments or debt will often find they end up with interest rates that are higher than those for individuals with higher credit scores. Luckily, a poor credit score can be improved in a number of ways, including taking out a new line of credit and making timely monthly payments. Because of this, a car loan can be a fantastic opportunity to build your credit profile.

Building credit with an auto loan

Not only will an auto loan allow you to get the car you want without coming up with the entire price all up front, it will also improve your credit score if you stay on top of monthly payments. When buying a car in order to build credit, it’s important to make sure you never miss a payment, as this regularity is the key to improving your individual credit profile.

Visit Casey Credit to learn more about securing the right financing for your new car.

We'd Love To Hear From You!

*I understand that BMW NA and/or an authorized dealer may send me offers or information about their products and services at my phone number listed above. By checking this box, I agree to receive such offers and information via automated technology, such as autodialed text or phone messages. I understand that my consent is not required as a condition of purchase.
I Agree
11700 Jefferson Ave.
Newport News


  • Monday
    9:00am - 8:00pm
  • Tuesday
    9:00am - 8:00pm
  • Wednesday
    9:00am - 8:00pm
  • Thursday
    9:00am - 8:00pm
  • Friday
    9:00am - 8:00pm
  • Saturday
    9:00am - 7:00pm
  • Sunday
    12:00pm - 5:00pm

Contact Information

11700 Jefferson Ave.
Newport News, VA 23606
Phone: (757) 591-1100
Fax: (757) 591-1113
- + Disclaimers