Tag: credit score

Car dealerships rely on credit scores to determine if customers are eligible to receive a car loan. But what credit score do they use? What is your likelihood of approval? And what happens if you have no/bad credit? Our team at Car-N-Credit is here to answer all those questions and more!

When purchasing a car, most car dealerships run your credit score to determine if you are eligible for a loan. These scores come from a variety of different credit bureaus (TransUnion, Equifax, and Experian) that collect data from creditors. Based on the length of your loan, the remaining balance, the payment history, and the monthly payment, you are given a credit score. This credit score is a measure of how “risky” it is to offer you a loan. Most car dealerships use the FICO Score 8 scale to determine your eligibility for a loan.  

When you have a credit score under 500 it can be difficult to find a dealership that is willing to work with you, is reputable, and won’t try to send you off with a crappy car. Thankfully, for people living in the Piqua, Ohio area, this doesn’t have to be the reality. With Car N Credit, you can get a car loan with a credit score under 500. 

Car N Credit prides itself on its friendly and knowledgeable staff. Right when you arrive at Car N Credit, our staff is there to walk you through the car-buying process. You are more than a sale, or a way to make a bottom line. We don’t want you to walk away with debt you can’t handle and a car that doesn’t work. We want to get to know your needs before you even sit in one of our cars. 

At Car N [...]