It's a chicken and egg problem. You can't get an auto loan, or any loan for that matter unless you have a good credit score. But you can't get a good credit score without a loan. At the Glockner Family of Dealerships, we're here to provide solutions to this problem.

What Is a Credit Score?

Before you can improve your credit score, also known as a FICO score, you need to understand what it is. This is is a number between 300 to 850 based on information from your credit reports. It tells banks, car dealers, credit card companies, and other lenders how good you are with your financial obligations. They use this score to determine whether to lend you money.

·         Scores below 580 are considered poor and may make it difficult for you to get any kind of credit.

·         Good scores between 670-739 are considered good. The average credit score in 2020 was 711, according to Experian.

·         Scores above 800 are excellent and get you the best terms and interest rates.

You want to keep your score as close to excellent as possible.

Where to Check Your Credit Score

Your score is part of your credit report. By law, you can obtain a free credit report once a year from each of the major credit bureaus: Equifax, Experian, and TransUnion. Because each report is slightly different, it's worthwhile to get all of them. Try asking for one every four months for an on-going look at your credit.

You can contact each company individually for your report. But a more convenient way is to go to After filling out a form to verify your identity, you can then view the report of a specific company and print it for your records.

How an Auto Loan Affects Your Credit Report

When you get a new car loan or refinance an existing one, your credit report shows a hard inquiry, which temporarily removes a few points from your score. The loan also adds to your credit mix in the form of an installment account. If you don't have such an account yet, your credit report improves because lenders like to see a variety of accounts.

What Are the Factors of a Credit Score

FICO looks at five factors when determining your credit score:

·         Payment History (35%): This most important factor looks at how often you make payments on time.

·         Credit Utilization (30%): This shows how much of your available credit you use. Ideally, you want to use between 5% and 30%. If your credit use is higher than this, then it's more likely that you'll default on your loan.

·         Credit History Length (15%): Longer credit and loan accounts equals a higher score.

·         Credit Mix (10%): Different kinds of credit, such as an auto loan, credit card, and student loan, are better.

How an Auto Loan Can Improve Your Credit Score

The biggest way to improve your credit score with an auto loan is to always make your payments on time. Your loan account then appears as "current" on your report, which improved your score.

If you fall behind your payments by 30 days or more, not only will that negatively impact your report, but the lender may repossess your car, which could destroy your credit. Negative factors can remain on your report for up to seven years.

Getting Started with Your Credit Score

At the Glockner Family of Dealerships, we're here to sell you a car, so our goal is 100% auto loan approval for all customers. Whether you have no credit, bad credit, or good credit, we want to find you the right vehicle and build a long-term relationship with you. We can solve the most difficult credit problem for fast and easy credit approval at a fair interest rate.

To get started, fill out our online application form from the convenience of your home or office. This will get you pre-approved for a specific amount, so you know the price range in which to find your vehicle. We'll offer you an installment plan that falls within your budget. You can even consider lowering your monthly installments by offering a down payment of trade-in.

Any questions? Please call us or ask them through the handy text box.


  • Monday 9:00am - 6:00pm
  • Tuesday 9:00am - 6:00pm
  • Wednesday 9:00am - 6:00pm
  • Thursday 9:00am - 6:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 5:00pm
  • Sunday Closed


Glockner Family of Dealerships

2901 US Highway 23
Directions Suite A
Portsmouth, OH 45662

  • Sales: 740-351-2900
  • Service: 740-353-2161
  • Parts: 740-353-2161