
Hello and welcome to another educated span of time with Tech with Sasha.
This week is about reflection AND making it work FOR you rather than against you. 2020 was a constant roller coaster for many of us across the world. From financial to emotional, nearly everyone has felt the impact of COVID-19. What some of you may or may not know is that 2020 year fell into the 5-year cycle for FICO score review. We are so happy to put that year behind us. It’s a new year, so now let’s start rebuilding.
Fico Score
A FICO score is the very heart of how your credit is rated and scored. For small businesses, this score can make or break us. This year brought the largest change yet, as it also incorporated personal loans into the equations. Personal loans are at an all-time high here in the US. With over $300 Billion of our economy is wrapped up in personal loans.
Many Americans continue to use personal loans to pay down or off credit cards and consolidate other loans into one easy payment. Under the previous scoring method, this would have improved your credit score, but under the new scoring system, this could either bump you up 20 points or knock you back 20 points.

For The Car Lovers
By now I am sure you are wondering why this is important knowledge for our car-loving crowd. Well, Americans still need a mode of transportation.
With the average vehicle on the road being 12 years old and many Americans driving their ‘trusty rusty’ till it just can’t go on anymore, car loans and or personal loans are still vital to the average consumer to keep them afloat. With millions of workers out of work, some are pushing their luck each time they start their car. And I am here to offer you some good news Now, just maybe the best time to buy and upgrade your ride.
40 million Americans saw a 20 point jump to their credit score. Most of these jumps occurred with those right at the poor or unfavorable ratings. That jump MAY have pushed you into a new bracket that makes getting a loan an option.

The Jump
To add to this jump, dealerships are extremely eager to make a deal. The pandemic hit them as well, and automakers are throwing some serious cash to help dealerships broker better deals for consumers. Banks are becoming more flexible as they too are under pressure to help fuel the economy with more revenue. As the year draws to a close, this spells a huge opportunity for today’s car buyers.
So here are a few tips:
- Go to your bank first.
Your bank knows you, sees your banking history, and would be in the best position to give you the best deal. Walking into a dealership with money already guaranteed is a powerful leveraging tool that works to your advantage.
- Research what you need
Know what you need BEFORE you get to the dealership.
Know how many passengers you need to fit, what job the vehicle needs to perform, and what options you need.
Have a few models in mind and be sure to sit the WHOLE family before making up your mind. Car Seats, ease of access, legroom, and personal space are important things to keep in mind before you sign papers. - Don’t be afraid to buy new vs used
There are plenty of vehicles available right now that won’t break your bank or cause you to go over budget.
- Don’t be afraid to walk out.
Please understand that this is YOUR money and YOUR choice. Don’t let pushy salespeople try to get you into something that works for their bottom line more than your own.
- If you buy used, be smart
Different budgets may only present a Used car purchase and that is fine. A good deal can still be made when buying a preowned vehicle.
Mileage: Try to stay under 100,000 miles
Year: Try to be less than 6 years old
Owners: Buying off lease or previous rental is definitely a feather in your cap. Getting a CarFax report is fairly easy and free and also offers you leverage in your purchasing experience.
Pricing: Again, research, research research. Know the value of what you are looking for and what you are looking at once you have narrowed your search. - Knowledge is Power!
The more you know walking into the deal, the better YOU are and the better deal you can get.
- Take your time
Buying a vehicle should not be done in a rush. A solid purchase can take as long as a month but shouldn’t be done in under 3 days.

Have Fun Wit It
Contrary to popular thoughts, buying your next ride should be fun. It is an adventure and one that will be the focal point of many years of memories in the making. Don’t let anyone take that away from you. Don’t forget to reach out to us if you have any questions or just need advice! We are here to help you and to make sure YOUR next purchase is a successful one!
ABOUT THE AUTHOR
Sasha Little

Sasha J Little is setting a new standard for how to today’s consumers look, purchase and utilize the world of transportation around them. Her commitment to mobility news and technology is changing the way
current and future drivers see and handle their next vehicle purchase. As mobility technology journalist at TechWithSasha, she specializes in education and preparedness to her listeners and fans. Sasha works each and every week to bring the latest and greats news YOU can use in the ever changing mobility landscape.
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A big thank you for your blog article. Really thank you! Much obliged.