From buying used cars to motorcycles to homes, your financial past determines if you can get them ASAP.



When you're ready to start acquiring assets--from buying used cars or new POVs (personally owned vehicles), to major appliances, etc. you'll likely need more than your base pay. Lending institutions look at your credit history to determine the interest rate you'll pay, or if you are even eligible for a loan. Learn how to establish credit for a solid financial future.

Your FICO credit score: learn how to establish your own credit history and get what you want.

A lack of credit history can make things like getting a credit card, or buying used cars, difficult. Fortunately there are more options than ever before, including first-time credit applications and low credit score loans.

Follow these simple steps to square away a solid FICO credit score:

* Open an individual savings and checking account. Your monthly account balance will show how well you handle your money.

* Look into low credit score loans. Though you will pay interest, you can establish a good record if you make payments on time.

* Get a credit card. If you are at least 18 years old, they are generally easy to obtain from department stores or gasoline companies. First-time applicants often get reduced lines of credit to begin a good track record-- so indicate your status on the application. (Make sure that the card doesn't carry high interest rates or finance charges.)

* Consider a secured credit card. These cards require you to deposit money before usage. Then, if you are unable to meet your monthly obligation, the lender takes money out of that deposit.

* Learn more about FICO and your FICO credit score.

Build your FICO credit score by applying diligence and common sense.

Opening credit-worthy accounts is just the beginning of establishing a good track record, and building your FICO, or auto loan credit score. Once accounts have been opened, you'll need to:

* Pay your bills on time.

* Pay at least the required minimum.

* Keep an eye on purchase amounts.

* Create a monthly budget to make sure you can repay your debts.

* Check your FICO credit score regularly to make sure it's accurate. You are entitled to one free credit report per year from each of the 3 leading credit bureaus; after that, each report costs around $8.

A high auto loan credit score will lower your interest rates and save you a lot of money.

First-time credit applications and low credit score loans are making it easier than ever to get loan approval. Ask about these programs when researching or making a major purchase.

The longer that you make regular, on-time payments, the more you improve your FICO, or auto loan credit score. You will soon begin qualifying for lower interest rates, which over a period of years will save you a significant amount of money.