http://www.NationalScoreIndex.com. Overall, the study found that: * The average Experian PLUS(SM) Score for consumers with no late auto payments is 689 versus 596 for consumers with at least one late auto payment. When a payment is late by 90 or more days, the average score dropped to 574. * 1.5 percent of consumers who have an auto have a repossession noted on their credit file. The average credit score for those with a repossession dropped even further to 566. The states with the highest repossession rate are Arizona, New Mexico, Texas, South Carolina and Nevada.
== == http://www.NationalScoreIndex.com. Overall, the study found that: * The average Experian PLUS(SM) Score for consumers with no late auto payments is 689 versus 596 for consumers with at least one late auto payment. When a payment is late by 90 or more days, the average score dropped to 574. * 1.5 percent of consumers who have an auto have a repossession noted on their credit file. The average credit score for those with a repossession dropped even further to 566. The states with the highest repossession rate are Arizona, New Mexico, Texas, South Carolina and Nevada.
With a reposession on your credit report it is almost impossible to get another auto loan unless you have not had any negative reports after the repo and you have at least 30% down. It probably lowers your credit score by 100 points.
Absolutely it does! Your credit score is used by credit agencies to determine the amount of risk they are taking on. If your credit score is bad or low then you auto loan rate will be higher. However, if your credit score is good or high then your auto loan rate will be lower.
No, it does not affect your credit score at all.
Auto insurers take a credit score provided by one of the three (3) credit bureaus and then they add characteristics that would not be present on your credit score to come up with an internal score. The auto insurer does not need to tell you what your credit score was, however, they do need to let you know which credit report (and associated score) was used to arrive at their decision. There are a number of service provides that provide access to your credit score. A few of these service providers are represented in the related links section.
i = installment loan. 8 = repossession. i8 = repossession of an installment loan (like an auto loan).
NOTICE OF DROPPING PARTY DEFENDANT
To improve you credit score for an auto loan, you need to pay off your bills on time. You should pay off your debt. You should not take out additional credit and you should check your credit report.
One can find a credit score calculator and estimate his/her credit score on Calxml. The result depends on one's mortgage, auto loan, student loan, credit card, etc.
the acurate auto loan you need is at least 750
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.
The best way to find more information about credit scores for auto loans would be to obtain one's own credit score. Also check with the car dealership one is seeking to purchase a vehicle from to see if a credit score is required.