The Cost of Bad Credit - 'Home + Auto' - WLOX.com - The News for South Mississippi

The Cost of Bad Credit - 'Home + Auto'

We know that bad credit is costing you! How much depends on the individual. Let’s look at the information below and maybe it will give you an idea of the answer to that question for that particular circumstance. The economical cost of Mississippi Credit Repair is a great investment for your future.

Compare the figures, and you will see that having Mississippi Credit Repair on your behalf can increase your credit scores, lower your interest rates and save you thousands of dollars.

EXAMPLE 1- AUTO FINANCE

If you are making payments on a car, you are probably paying between $4,000 and $8,000 dollars or more in interest just for having a credit score that is too low.

$20,000 car paid over 5 years:

Credit status

 Rate

Payment

 Cost of bad credit

Excellent

6%

$386.66

$0.00

Mildly damaged

12%

$444.89

$3,493.00

Damaged

20%

$529.88

$7,461.00

 

EXAMPLE 2- HOME MORTGAGE

A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit, as indicated below.

$100,000 home paid over 30 years:

Credit status

 Rate

Payment

 Cost of bad credit

Excellent

7%

$655.30

$0.00

Mildly damaged

9%

$804.62

$50,155.24

Damaged

12%

$1,028.61

$130,791.63

Contact us or stop by today!

1015 Pass Road
Suite D
Gulfport, Mississippi 39501
228-314-2733 (local)
888-314-2733 (toll free)
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