Car Buying
Credit and Debit Cards
Improving Your Credit Rating
Credit

Is 0 percent financing based on your credit score and if so how high does the score need to be?

217218219

Top Answer
User Avatar
Wiki User
Answered
2015-07-15 19:09:16
2015-07-15 19:09:16

740 or better beacon score however dealer can set higher standards on this if it is a higher priced vehicle.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Related Questions


Your payment history makes up 35 percent of your 3 digit fico score. Your debt to income ratio makes up 30 percent of your fico score. 15 percent is based on length of credit history. 10 percent is based on new credit and the other 10 percent is based on the types of credit used.

There are several companies where you can credit score advice before applying for financing when looking into housing. One website that provides credit score advice is: http://www.bills.com/loans/.

Your credit score can possibly affect your interest rate when you apply for home financing. If you have a low credit score, you are considered a higher risk to the bank, and therefore, they may raise your interest rate.

A credit score of 606 is considered a good credit score. 680 and above is considered an excellent credit score. A good credit store is important if you need to acquire financing for a car, home, or business.

The maximum credit score based on FICO is 850.

An 808 credit score is very good, any score in the 800 range will qualify you for most financing. According to credit experts, you do not want to let your score fall below the 700 range.

It is possible to get motorhome loan with low credit score. Many RV financing companies provide motorhome loans with low or bad credit score. Just you need to search the right motorhome financing company online in your area that can provides the motorhome loan with low credit score.

There are many trucking companies that will allow tow truck financing, even without a perfect credit score. You should check your local newspaper in the advertisement section.

Yes, any form of financing can effect your credit score because it is considered as having debt. Here is a useful link to give you more information for any other questions you may have: www.experian.com/credit-education/credit-score-faqs.html

Generally used car financing requires a credit score of 680 or higher to be sure to be approved and get reasonable rates. If you are obtaining financing directly from the seller/dealership and put down at least 25%, someone with a credit score of 650 should find success. If you don't, however, have the income to support the payments, you WILL be turned down.

A credit report tracks your credit reliability based on your history of making payments on your loans and other debts. A credit score is a numeric value based on a weighted formula and your credit history. To find out more on both your credit report and credit score go to http://cashmoneylife.com/credit-score-credit-report-difference/

All banks offer different loan financing to customers based on their credit score. There is no one bank that consistently provides better interest rates on an auto loan. To go further, it is more likely that a person with average or bad credit is likely to get financed from a credit union before an actual bank.

Yes credit score is really important to know when you are trying to finance a vehicle and you can always get credit scores from a number of places like http://www.freecreditscore.com

credit score is not based on age but how you handle your credit....handling your credit well and your score goes up.....handle your credit bad, as in having a lot of debt and not paying on time brings your score down.

No, your low credit score should not affect your husband's credit score, unless the lender/bank uses both your information for the loan. Credit score is based on each individual's information.

Your credit history really does determine everything when it comes to what kind of financing you are going to be able to get for yourself in the future. This is the case because it is all that anyone has to look at when they are trying to judge how worthy you are of their financing. Assuming that you understand this, you are going to want to make sure that you are working to keep your credit score as high as possible. The higher your credit score, the better this is for you down the road. Do not neglect to find out about the credit score now.

If you are looking to purchase a used car you will be able to find great financing as long as you have good credit. The best places to look are local credit unions and local banks that have a branch in your area. If that does not work for you then see if the place you are buying from has in house financing. The financing you get will depend largely on your credit score.

Usually the dealership can help you obtain financing. It depends on the price of the car, your credit score, how much money you make, how many years you were at your current job, etc.

This depends on how long after. Generally the minimum is 2 years, but you must have established new credit and have an excellent credit history after the discharge. You must have a decent credit score (definition of decent score depends on the lender, but over 650 would be an example) in order to obtain financing.

The max loan to value amount based on your credit score would be 100% financing. As far as loan amount that would be based off your income and monthly obligations, credit score dictates how much of a percentage you may borrow and your interest rate, it doesn't dictate how much money you can borrow. There are also alternative means of documentation and mortgage programs if you do need to qualify for more money.

Pretty bad!! Anything below a 680 is pretty bad. You will find it quite hard to get financing with a score that low.

Yes...If you get a car loan and make your payments on time this will help your credit score. If you pay in cash, nothing will be reported to the credit agencies.

If you don't have credit, you **can't** have a score, since they are solely based on your use of your credit. The bureaus return a report saying "no credit information on file".

as far as your credit score goes, than answer is a resounding YES, that is a great credit score. Of course there are other factors such as your income, your work history, what kind of credit you currently have, what type of financing are you looking for, etc.

There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.


Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.