Repair Bad Credit | Fast Credit Repair

The majority of individuals are unaware of the extent to which a bad credit history affects their ability to borrow. It is not unusual for us to hear comments like "my credit rating couldn't be too bad - the bank has loaned me money". What people don't always ask is - at what cost? A damaged or bad credit rating means that you will pay a lot more for the things that you buy and the money that you borrow - much more!

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The examples illustrated below will demonstrate just how severe the added costs resulting from bad credit are.

Example 1: Automobile Financing

Those individuals with bad credit who are making payments on a typical automobile loan are likely paying between $5 - $9,000 more in interest. They are paying this solely because they had 'bad credit' when taking out the loan. See the chart below.

$20,000 automobile paid over 5 years:

Credit Status	Rate	Payment	Cost of Bad Credit
Perfect	10%	$424.94	$0.00
Mild Damage	14%	$465.37	$4,722.54
Damaged	20%	$529.88	$8,593.30

Example 2: Mortgage on a Home

Bad credit in auto financing can severely impact what that car costs, however, it pales in comparison to what bad credit will cost you when a home is involved. An average home can cost anywhere between $50,000 and $130,000 more in mortgage interest for those purchasing the home with 'bad credit'. See the chart below.

$100,000 home paid over 30 years:

Credit Status	Rate	Payment	Cost of Bad Credit
Perfect	7%	$655.30	$0.00
Mild Damage	9%	$804.62	$50,155.24
Damaged	12%	$1.028.61	$130,791.63

These two examples clearly show, in dollar terms, the cost of having 'bad credit'. The bottom line - bad credit always costs you! This rule does not only apply to automobiles and homes - it applies to absolutely everything you buy and every dollar you borrow. An individual with bad credit will pay more every time.

Why should you repair bad credit? You should repair bad credit immediately and save yourself thousands of dollars in your future!

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