Any car dealers out there that can explain what the different credit tiers mean as far as the credit score or credit criteria required? For example, a recent GM advertisment listed rates based on A, B or C credit tiers. Thanks, direct
Ok, I got the skinny on this one in case anyone is interested.... A tier= fico score of 700+ depending on finance company and deal involved...gets you the best interest rate/terms B tier= 625-699 fico score, not as good as A tier terms/rates, but ok C tier= under 625 fico score... higher interest rates/more restrictions D tier and lower tiers= Bankruptcy showing on credit report, low fico, and other problems....Highest rates/bigger down payments required. direct
