There is no minimum credit score needed in order to qualify for an auto loan. If you are dealing with bad credit, it can be more difficult to get approved. However, special finance lenders will consider many factors, so there is no minimum credit score needed.
Looking for ways to check your credit score for free? Marilyn Lewis of MoneyTalksNews recently highlighted six ways that consumers can access their official FICO score at no cost. Monitoring your credit score gives you more control over your financial life.
New PowerView Score from Equifax and LexisNexis will use additional information to create a more accurate credit score for borrowers applying for new and used car loans.
Have you ever gone to a car dealership only to learn that the credit score they have for you is different than the one that you previously obtained? This may be because they are looking at your automotive-weighted credit report, which scores you based on your past performance with auto loans.
Despite how important they are, most people are confused by their credit scores. That’s right, you have more than one. Let’s explore why a consumer has multiple credit scores, take a look at how they are calculated, and explain how to maintain a good one.
One of the five factors that determine your credit score is the types of credit accounts you have. Having a healthy credit mix, or a variety of accounts in your portfolio, is going to help out your rating.