Does anyone happen to know what scores each of these auto credit companies may require for their lowest finance offers (i.e. 0%, 1.9% etc): Honda Credit Nissan Credit Toyota Credit Thanks! Lisa
Lisa, I dont have an exact answer to your question, but I do know that since you are talking about the most popular imports, the criteria for the 0% financing is going to be significantly tighter! More than likley you will find that they are going to require that you be in the prime lending risk category. So more than likley you would be in the running with a FICO score of above 740 (possibly 760) in order to qualify. Of course it never hurts to try and visit there websites or pickup the phone and give them a call to see! Michael
My husband has scores in that range on EQ & TU (771 / 799). I am almost at 700 on both. I was thinking we would let him apply alone and leave me (and my lower scores) out of the mix. From what I can tell, I think all 3 of these finance companies pull either TU or EQ or a combination of both. I didn't find any EXP requests which would work out great for us.
Any of these three captives have done scores in the low to mid 500 range. Many items go into play to get those low scores done. If you had a recent repo, foreclosure or other big balance derog item it would not matter how high your scores, most would t/d unless there is a huge down payment. Your scores are fine with any of these 3 lenders.
I think your missing something here - their scores wouldn't be in the 700's if they had any serious bad derog's recently.. whatever made them low in the past is no longe ron the reports. I agree though, the scores themselves should be fine. I would suggest yoe show your report to the F/I manager at the dealership and get his/her thoughts before they run a hard.
ppt3, How much of a down payment do you mean when you say 'a huge down payment?" Is there a certain percentage of the sales price? Thanks, Mallemall
