I know there have been a bunch of Ford Credit questions on this board, but my search function is sooooooooo sloooooooooow that I am going to ask a couple of quick questions. With my current scores (see my signature) would Ford Credit approve an application for auto financing? Would the scores I have now be good enough for the current zero, zero, zero deals they have going on? Is there a particular credit bureau they pull more than the others (located in MO)? I would like to avoid the inquiry if I don't get an extremely good rate on a loan, since I am only getting the vehicle to get out of my current high interest loan from a time when the credit gods weren't looking on me as favorably as they are now. Thanks in advance everyone!
I do not know for fact but I will tell you what I was told by financing guy at Ford. First and formost, you need a good auto loan history. He told me that to get 0 financing you need a 750 score (I have read other people getting it with less though?) EVERY time FMC has pulled my report it was EFX. But I do not know if it is just where I am or if it is all Ford dealerships but they have now made it policy (again I repeat WHERE I AM) that they are to attempt financing through 3 of our local banks before they will submit to FMC. 3 different dealerships here did that to me. So needless to say I got hit with a ton of inqs. Every bank and FMC turned me down due to inaddequate auto loan history.
FMC is a very agressive lender. I have gotten fmc customers 0% with scores in the upper 500's based on prior auto credit & the equity position. Your area will probably pull tu only. Keep in mind if you are trading in a vehicle heavy upside down or have had bad prior accounts with fmc this will cause problems. FMC may also pull additional bureaus if there is reason to suspect fraud or verify additional info. Hope this helps
I justed borrowed 75K for two vehicles from FMC (the commercial credit division). I had scores in the 640s and they pulled only EXP (I am in NC). We had a fairly strong balance sheet and cash flow statement for the company.
I just bought 2 cars, got 0% financing with equifax about 670 and experian at 630 don't know TU score.....they didn't ask for any thing other than my last paystub....HTH
