Check Your Credit Score and Report
Your credit score is one of the key factors that lenders look at when deciding whether to approve you for an auto loan and what interest rate to offer you. Check your credit report from the three major credit bureaus to ensure it is accurate and up-to-date. You are entitled to a free credit report from each bureau once per year.
Know What Is Considered a Good Credit Score
In general, a FICO credit score of 670 or above is considered good and will usually qualify you for a competitive auto loan rate. Scores between 580-669 are considered fair, while scores below 580 may make it more difficult to get approved. If your score falls in the fair or poor range, you may still have options such as getting a cosigner on your loan or saving up a larger down payment.
Contact IAD Auto for Assistance
At IAD Auto, we work with a wide network of lenders to help secure financing for customers with all types of credit backgrounds. Browse our selection of quality used vehicles and discuss your financing options with our knowledgeable team.
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