Auto Loan Credit Lingo???

Discussion in 'Credit Talk' started by direct, Nov 6, 2001.

  1. direct

    direct Well-Known Member

    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.


  2. kustomkat

    kustomkat Well-Known Member

    not usually... but even if you have c credit you can get a b credit loan if you haggle..
  3. direct

    direct Well-Known Member

    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.


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