Exactly what score is needed to get a halfway decent interest rate financing $20,000 on a new car loan?
Difficult to say. I know auto financing companies use a seperate scoring model than say credit card companies do. If you have a car brand in mind you might call the financing dept & ask without giving any personal info, just say you are looking around because you might want to get a vehicle in the future. Also call your bank, any credit unions you have and get some quotes there too, be sure to tell them you don't want your credit pulled, you just want a ballpark estimate. Be careful when going to dealers, you'll wind up with mega inquiries! They'll pull your credit all over the place. I may be wrong but having your financing set before purchasing sounds like a good thing. Thats what I plan to do when/if I ever get to look at getting another car. In the meantime my Malibu will have to chug along. Hope this helps, I'm no auto finance expert. Tegleg
I had great luck with Roadloans. 8% on a 2003 Expedition from Carmax. Great car, decent payments. I think it was about 20K for the truck. I had about a 600 score. good luck mburris
It depends, for an auto loan, they might just check only one bureau. As suggested above, you might call and ask which bureau they pull and if they have a choice, see if they'll just pull your good one. My guess is if that's what it takes to put you in a car, they'll accommodate. You might try to turn this around to your advantage and hold out on that point. Tell them you'll only go to some place that just checks bureau "X." No point in giving any more money away than you have to.
