Anjela Rob |  Q. How good is a 630 credit score?
630 is not so bad. Even if you arewilling to buy a house costs 250,000, they will ask for 620. So by and large, itsok.
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Ben Beach | Q. Is a credit score of 590 good?
"But the credit score of 700 is considered really good...."
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Alline | Q. What is a good website for checking my credit score online?
We appreciate your patience and look forward to assisting you.
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 Q. How good do you think is the 700 credit score for the car loan of $20000? is it good enough to receive the car loan of $20000. what are other factors that play in determining if you receive the loan of that amount or not. and please explain in the simple english as i am not expert on this topic.
"A credit score of 700 is good enough..."
Yes, a credit score of 700 is good enough, but it also depends on your income. I went to try and buy car for $7,995, and I have excellent credit (over 750), and they were more concerned about how much money I made than my credit score. The company asked me if I could get my parents to co-sign to make up for the missing annual income. It also depends on how long you've been at your current job, how long you're going to make payments, and another factor which I can't remember what it was. But yes, a credit score of 700 is good.
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Q. Credit score.......car loan? is a credit score of 730 good enough to get a used car loan of around $12,000 without a cosigner???? and i'm 19 if that makes a difference. i can also make good monthly payments of around $400.
"You might be able to get a credit union if you are a member..."
If you have not bought a car before you will more than likely need a co signor to get a car at a good rate. You might be able to get a Credit union if you are a member to do the loan if you have a good history. If you do get a loan I would go short term less than 60 months best 36 or 48 so that you avoid being upside down in the car in the future. With established credit a 730 would get you 5.5% through most of the lenders we have.
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Q. Is a 632 credit score good enough to be someone co-signer for car loan? my friend has a credit score of 500 and got decline for car loan recently. she told me her mother has a credit score of 632, is that even good enough to be help her qualify for the car loan?
Sorry but a 632 score would need a co-signer of their own.
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Q. What is a good credit score when applying for a car loan? i want to apply for a car loan, but am afraid i will get turned down. i have all of my credit cards paid off, but have around $12,000.00 in student loans and owe $4,000.00 on the car i am currently driving. i only make around $27,000.00 a year. will my debt to income ratio be too high?
"The best score is cash..."
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Q. Does a good credit score help you get a good car loan? if you have a high credit score does this actually help you get a better deal on a car finance loan than somebody with a lower credit score,will you just be able to get a greater value loan or help you negotiate a lower monthly payment
"What interest rate you get then simply score..."
Auto finance is what I do for a living and a good score will go a long way towards getting you a better deal but there is a whole lot more that goes into what interest rate you get then simply score .
Below is a list of factors that decide what you rate will be and what the lenders look for.
Factors.
1. Loan to value (LTV).
2. Age of vehicle.
3. Term of loan.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income including new payment.
What they look for;
1. Between 85% and 115%.
2. No older then 8-years.
3. 36-72 months.
4. No more then 100,000.
5. 10% of the sales price or $1,000.00.
6. 2-years.
7. 2-years.
8. $1,500.00 to $2,000.00 depending on lender.
9. 540 or above with 4 paid as agreed lines of credit with 1 being a installment loan paid at least 12 times for at least $150.00 a month and in the credit bureaus for at least 3 years.
10. Not to exceed 45%.
Another thing that comes into play is called payment to income ratio so depending on the term of the loan and the interest rate you would have to budget for the payment. Most lenders do not exceed 16%.
Good luck.
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Q. Good credit score; can i get a car loan on my own? hi, i just looked up my fico score which is 663. i know that's now flawless, but isn't that a good enough score to get a loan for say $10,000? i also have 2 satisfied car loans on my record which are closed and had no late payments. i know the economy is screwed, but i would think there's no reason why i can't get a car loan for 10k.
"Credit unions are more easy on their credit guidelines..."
If you go to a bank that might not be good enough. Banks are looking for 700 or more and a Debt to Income Ratio of no more than 45%.
The Debt to Income Ratio is basically how much you owe in comparison of what you make.
If you go to the dealer you might have a better chance. Also, try a Credit Union. Credit Unions are more easy on their credit guidelines.
Hope this helps.
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Q. Is getting a car loan a good way to raise my credit score? i always pay my bills on time and i have absolutely no debt(never have). i have the money to buy the suv but should i finance half to raise my credit score? obviously, i'll be spending a little more for the interest rate. which would be better, a personal loan or auto loan? thanks!
"Examples are ford credit..."
Yes, See if you can get financed through whatever makes financing company. Examples are Ford Credit, GMAC Loan, or Chrysler Credit. Pay these on time and it will add a little bit more to your credit than going through a traditional bank
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Q. Car loan/credit score? okiee my credit score is 700 an does anyone know if that is good enough to get a car loan an also i am 18 will that matter about getting approved for the auto loan??
"Your score is decent..."
your score is decent, however, a number of factors will be taken into account. net monthly income vs. debt, and loan amount, current employment period of time. amount of the down payment on the loan. late payments/nonpayments on your current accounts. also in some states your age will be a factor. and of course the amount of time your current accounts have been opened. you have a pretty good shot though, considering your score is around 700. remember that those people REALLY want to sell you a car.
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Q. Where can i get a car loan with low credit score but good income (job).?
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carinsurance.yoll.net
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Q. Is a credit score of 658 good enough to get a car loan? i have never had a car loan before and am hoping to get one soon. i have credit cards, but never been behind and pay atleast the min. due each month.
am hoping to get about $20k loan?
this morning i paid off 2 credit cards and usual pay more than the minumum. i have good dti now because my living situation just improved with in the past few months- i am planning on paying off most of my cards very soon.
"With 4 paid as agreed lines of credit with 1 being a installment loan..."
It's not that simple.
Auto finance is what I do for a living and car deals are based on the following factors;
Factors.
1. Loan to value (LTV).
2. Age of vehicle.
3. Term of loan.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income including new payment.
What they look for;
1. Between 85% and 115%.
2. No older then 8-years.
3. 36-72 months.
4. No more then 100,000.
5. 10% of the sales price or $1,000.00.
6. 2-years.
7. 2-years.
8. $1,500.00 to $2,000.00 depending on lender.
9. 540 or above with 4 paid as agreed lines of credit with 1 being a installment loan paid at least 12 times for at least $150.00 a month and in the credit bureaus for at least 3 years.
10. Not to exceed 45%.
Another thing that comes into play is called payment to income ratio so depending on the term of the loan and the interest rate you would have to budget for the payment. Most lenders do not exceed 16%.
So as you can see there is a whole lot more then just score to consider.
But if you have the credit profile to go with your score, you should be able to get a loan.
And for those that don't know FICO scores from 300 to 850.
Elite 740 & up
prime 700-739
Preferred 660-699
Standard 625-659
Sub-prime 624 & down
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