Credit Scores for Buying a Car: Current Tiered Rates & Scores (Former Dealer Explains)

[@georgeh6856]

I had a home mortgage for ~12 years, paying only the min. each month. I refinanced, but still a lot of principal left when I sold the house. I had car loans early on. What I learned is the opposite of the American dream: Live way under your means. Do everything as cheaply as you can. Buy reliable cheap used cars. Pay cash as much as you can. Put any money into paying off loans, and then into a house or condo you may own. I am now debt free.

[@lindap.p.1337]

Now this is sensible, practical advice.

[@Son37Lumiere]

This is what's called financial responsibility. Unfortunately since practically no one is doing this anymore it's driven the prices of everything so high that only the rich can afford to buy many things in cash.

[@Son37Lumiere]

@@Y2KQuan This kind of thinking is what has ruined the economy, the dollar, run up the debt to 30.5 trillion and rapidly increasing and will ultimately lead to the downfall of the country.

[@NotShowingOff]

Exactly. Don’t consume unnecessarily. Particularly large ticket items.

[@theshawnvotedforhillaryrac7961]

Pro tip don't take advice from randoms on the internet who don't know your personal situation

[@magellanmax]

Takes a set of brass balls to walk into a car dealership with a 297 credit score, win a $99 car and not have money for doc fees.

[@paulkieffer1189]

I didn’t even think that was possible?

[@catdog262]

😂🤣😆

[@anthonymarshall2653]

Pretty sure I knew that guy🤣

[@OttoBrandt-i5c]

unless they used the "doc fees" to truly make their money, with the $99 being just a teaser

[@jordanbrant6648]

🤣😭😂

[@nbalagopal]

I got a call from a Ford dealership today and the sales guy said. .. “I have a customer looking for the specific year/model/color of Ford you own and so if you’d like, we can give you a brand new one for the same MONTHLY PAYMENT... How does that sound?” ... I told him, we paid it off.. and he was like.. “Ok, have a good day..”

[@strikedown999]

tyvm guys i've been working on my credit for a few years now and now i know where i stand :D ty going for my first real car wish me luck in two months

[@oyedokunamos3792]

I must confess it was too good to be true and felt like an orchestrated scam. I thought long and hard because I was in a credit mess, late payments, collections, repossession and I needed a bigger house for my family, a business loan which all was unattainable. I contacted him via ([e-mail]) I hoped testimonies about him was genuine and hell yes it was. I’m a living witness to his good works as my score has been upgraded . I have a FICO score of 770 now from mid 500 with an impeccable credit report.

[@Ojisan642]

Pro tip: if you have bad credit, don’t borrow money to buy a depreciating asset like a car. Buy a cheap car for cash instead.

[@Anon1mous]

True but the reality is that if someone has poor credit already they probably got $0 cash because they'v shown they are not responsible with money.

[@Ojisan642]

Jon Sepueda true which is even more of a reason not to borrow money

[@seryooh]

Why not buy a cheap car with a loan and pay it off fairly quickly and increase your score at the same time?

[@WelcomeHome76]

You can have bad credit but have money to pay bills. A car loan can increase credit score. Get a car that holds value and is reliable and it can be have a lower expense than a cheap used car over a long period of time. A clever accountant can deduct many car related expenses.

[@mhbbej1]

Listen to Dave Ramsey. Never take a loan. Only buy a car with cash.

[@freddydee270]

I'm addicted to this channel. So much great info. What great chemistry between you two. Its like the 2000's version of the Smothers Brothers. I really tune in to see dad's watch collection. Keep up the good work. 😊😊😊

[@davidmorrill1623]

Another pro tip - know what you can get on the open market and negotiate the best price you can while letting them think that you will finance with them. Turn down all of the crap they sell such as extended warranties (pays less than 30% out in covered repairs vs the price of the service) as all that really is good for is for ripping the customer off. Once the paperwork is done and you have your car, refinance 2 weeks later. For us, we went from 4.94% (with ultra-prime credit) to 3.39%

[@heathwoodruff6975]

Where you refinance through? Just a local credit union?

[@NewYorkSour]

The part that confuses me is how lenders account for credit history. My auto scores are 700+ and my ficos are between 735-750 yet because I’ve chosen to pay for my cars in cash I don’t have history of loans. Obviously I understand how that can be a red flag but I can’t find information on exactly how it affects what tier you qualify for.

[@billguilfoyle1375]

I read where the banks are starting to tightening loans and increasing their loan reserves as the see hard times coming.

[@williamheinsinger7390]

Yeppers.

[@phlydude]

I have read that sub-700 scores may not even be considered for auto loans soon outside of the Cap One and Santander type lenders.

[@williamheinsinger7390]

@@phlydude That is True 😔

[@johnsonjacob2594]

Not happening. stop spreadinh rumours. They ARE LENDING LIKE CRAZY RIGHT NOW!

[@Rob_Basich]

@@phlydude the auto industry would collapse...

[@danmark6133]

25 years in the car business and 10 of that a car dealer finance manager. Beacon score of 720 and above gets the best rates. Anything over 720 doesn't matter. I'm a 819 and a 721 gets the same as me. Don't fall for this

[@the5thdim763]

Oh wow. What about scores between 600-659?

[@danmark3962]

@@the5thdim763 Not so god

[@the5thdim763]

@@danmark3962 Do they see a different between a 600 and 659

[@lindap.p.1337]

What are we not to fall for?

[@bigjack79]

Keep in mind that the $19.99 version of myfico only pulls Experian. You will need the 29.99 plan to see your scores across all 3 bureas. There could be a big difference in scores across the bureas.

[@Anon1mous]

All my credit cards and even bank (online site) offer FREE FICO score checks. Only issue is they vary by a few points depending on who they pull the score from and when. NEVER pay for a credit report or score. Everyone in USA gets a free one every year under federal law.

[@723skierbob]

Jon Sepueda You get an annual credit REPORT free, but not a free credit SCORE.

[@bigjack79]

@@needtoknow1989 credit karma and other apps are vanatge 3.0 scores. Completely different than fico.

[@bigjack79]

@@Anon1mous what you see from you bank is not an auto score. Never say never unless you are telling someone to never say never 💯

[@bitcoinforbeginners6932]

Thanks a lot to Credit Masterfix LLC for all their assistance and support. I have been telling all my friends and clients about them. they deserve a ton of recognition for what they do and how they help families fight bad credit. Hopefully this testimonial will assure others to trust your service and let a miracle happen to their credit today!!” I’m now part of the 800 club all thanks to “[e-mail]”

[@jmorris023]

Since you mentioned a Slasher event, you guys should review the Slasher movie. It's a crazy look at early 2000s auto sales.

[@nicklambrakis5740]

Please review the tier levels on the interest factor charged on a leased vehicle. What can you expect to pay with the top credit score.

[@ibrahimosiyemi6540]

I’m a here to give testimony about this great Credit Professional ([e-mail]). He paid off my medical debts, credit card debts and deleted all negatives items which even increased my credit score to 768 across all the three major credit bureaus. I can assure you he is real and effective because it’s painful to lose some earned money to fakes when you can work with a legitimate repair expert.

[@westoncharm7467]

Let's not forget income to debt ratio. Your credit can have a high credit score, but income is very important. The new Fico10 model will make it harder to get a loan.

[@chasehartmann5074]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@_Charrizard_]

Thankfully, the banks I've financed through don't have prepayment penalties. That's something I always look for.

[@broadwayblues]

My trans union auto score was high enough for me to get 3% financing even though I have a collection on my credit score.

[@bitcoinforbeginners9667]

I was referenced by a friend to hire ([e-mail]) after searching for solution for all my credit issues. it was obvious they were totally legit as all I could find about their service was good testimonies and reviews. They helped me fix my loans and closed credit card accounts, my mum's mortgage account was also attended to. I was quite optimistic and took a leap of faith by contacting them, all I can say right now is that I sincerely recommend their services to you if you require a credit fix.

[@leewells2450]

Great advice. Keep up the great work that you are doing.

[@bitcoinforbeginners9667]

I was referenced by a friend to hire ([e-mail]) after searching for solution for all my credit issues. it was obvious they were totally legit as all I could find about their service was good testimonies and reviews. They helped me fix my loans and closed credit card accounts, my mum's mortgage account was also attended to. I was quite optimistic and took a leap of faith by contacting them, all I can say right now is that I sincerely recommend their services to you if you require a credit fix.

[@1958zed]

If you think those rates are high, the best rate that I could come up with when I bought my first car on my own in 1981 was 18.5%, and most offerings were in the 20%-21%. I don't know what my FICO score was then, but I suspect it was in the prime range. Needless to say, I paid that puppy off as soon as I had the cash to do so.

[@mikehock5285]

I too have wondered how credit was quantified back in the 70’s & 80’s. Someone had told me one one time that lenders used something called a “beacon score”? Not too sure but seems like very similar concept. I am willing to bet that a lot more focus was placed on income potential. Anyone with any further info would be appreciated!!

[@patrickdempsey8343]

Thank you for putting out useful content here on KZbin!

[@a.m9199]

This great company helped me with fixing my credit score and removing all charge offs from my credit reports

[@willj8814]

What company,,why not just list the company?

[@NeverTalkToCops1]

@@willj8814 Because it's too good to be true, or costs way more than you could do yourself. Make the Internet your financial friend.

[@douglashutchinson3256]

Thanks guys. About a year ago I was discharged from my bankruptcy, since then I've been rebuilding my credit. I'm looking at new vehicles and was worried about going for lending. My transunion is 670 Equifax is 686 Experian FICO auto 8 is 686 But my FICO 8 tanked to 657 after just paying an other auto loan off and having the account closed. But after watching your video it sounds like I'm in better shape than I thought. Also saw were dealers use dealership software to shop loans.

[@bitcoinforbeginners9667]

I was referenced by a friend to hire ([e-mail]) after searching for solution for all my credit issues. it was obvious they were totally legit as all I could find about their service was good testimonies and reviews. They helped me fix my loans and closed credit card accounts, my mum's mortgage account was also attended to. I was quite optimistic and took a leap of faith by contacting them, all I can say right now is that I sincerely recommend their services to you if you require a credit fix.

[@iwoww562a9]

Mines was done February. Slowly trying to rebuild myself. My goal is to buy a brand new Escalade

[@randyharbaugh7819]

Let's say I pre shop for a loan at BOA and they come back at 4%. I go to the dealer and they run the application, and BOA is a lender that you work with, same in terms of loan amount and years. Does the system know that BOA has already quoted me at 4% or is it blind to my other application? If the system knows, is BOA obligated to come back at the same rate they have quoted, could they come back lower do to the volume of business between the dealer and the bank?

[@micromanly]

Enjoyed the video. Have a good weekend!

[@areddfishing7473]

With a Great Score but lack of history does that matter? i had a dealer try to tell me my 6% rate is because i have lack of history mind this i had a 780 score.....? i walked out and got 2.9% at another dealer being a first time buyer. is this a load of crap he was trying to tell me or legit?

[@Stevo-xe9jw]

I had to live without any income for over 3 months a little over a year ago, so I can't even think about a newer vehicle, because, you know, according to the banks, no one is allowed to go through hard times. My vehicle is paid off, and my score went from 400 a year ago to 600 now, but it's a slow and painful recovery.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@MultiMusicbuff]

Yes it is painful but if you keep it up you will reach 721 soon enough which will get you the best rates.Mine is above 800 (used to be below 500 many years ago) but someone with 721 and above gets the same rates as i do.

[@rafaelgomez1989]

DEBT TO INCOME RATIO ( LTV ) the other KEY FACTOR....TO get LOAN APPROVED ....GREAT CONTENT GUYS !!!

[@jtreedy116]

I know this is an older video, but I'd be curious to hear how often dealers/lenders use FICO auto scores (say auto 8, auto 9, I'm sure auto 10 will be coming along soon enough now that 10 and 10-T are out) vs straight vanilla FICO scores. When I last financed my vehicles, my lender actually used FICO 3 which threw me for a bit of a loop. For the non-FICO pros out there, FICO 3 is a harsh model and my lowest FICO score.

[@williamhauser3686]

This doesn't apply in Kentucky. 815 credit score yet every place quotes me at 12%

[@uoohoo99]

I bought a new car in Oct 2016 with credit score about 659. My interest rate came in at like 3.42% thru Chase. Why are the rates so much higher now?

[@ibrahimosiyemi6540]

I’m a here to give testimony about this great Credit Professional ([e-mail]). He paid off my medical debts, credit card debts and deleted all negatives items which even increased my credit score to 768 across all the three major credit bureaus. I can assure you he is real and effective because it’s painful to lose some earned money to fakes when you can work with a legitimate repair expert.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@jeffs9850]

My how things have changed. We have 850 credit & in Aug 2023 got a loan on a used 2020 car for 7.35% which is very good.

[@chrisreed26]

Is it bad that the idea of buying a car, on time, with a price over $10K makes me sick!!! Being in debt for even $10K makes me sweat! To even think about paying $35K for anything with wheels that in a few short years loses well over half it's value makes me cringe! How do people sleep owing that much on a non mortgage debt????? No thank you! I will pay cash for a $2K car and drive it until it dies..then buy another $2K car to drive for another 3-4 years..as that is how long they tend to last me..I have standard credit tier..not bad but I don't have enough debt to raise my score! I have 2% utilization as I won't even let a balance stay on a card until the end of the billing cycle! I end up paying it off before it even makes it to the statement! I know this is bad to even do but I can't stand to owe!!

[@a.m9199]

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[@monique85]

Thanks again for the good advice

[@andrewyeverino6764]

Thanks guys, great info

[@davsea123]

Is there an Optimus Prime level?

[@Anon1mous]

1000+ FICO

[@davidhale2124]

Only in the movie transformers 😉

[@CasiodorusRex]

Yes, mine. I get car loans at 1.49%.

[@gilbertvargas5606]

😭😭

[@phlydude]

One of my scores came back at 800...SE Toyota Financial gave me 0%/60 mos with no money down if I wanted it - I still put more than 10% and went to my auto insurer for the $40/yr GAP insurance. I'll have the car paid off in 34 months by my calculations.

[@labornurse]

Could have put that money in stocks though.

[@Scott_Goodwin]

Why in the world would you put money down, or pay off a 0% interest loan early? You use your money to invest and use their money for free while in effect you get the car cheaper as every month passes. That is Time Value of Money 101. Sorry to sound harsh. I just hate to see someone make a bad financial decision when they're trying to make good ones. They don't teach this stuff in high school unfortunately. I don't think we talked much about that stuff in undergrad finance or economic classes either. The real financial knowledge only came in MBA school.

[@phlydude]

T M H could have, but didn’t - paid the tax, tag and title fees basically

[@phlydude]

Scott Goodwin because my wife will need a car sooner than later and as the bread winner, I assume more of the financial liability and I don’t want to have more than one car payment at a time

[@phlydude]

Mario S. If I could have, I would have but my savings were eaten by a home purchase and an extended layoff - after working for 3 months, I refi’d the house to a 20 year note (which I intend to have paid off within 14 years). I have no other debts and pay my credit cards (which I use as charge cards but use them to get cash back ) off each month, before they even hit statement. I’ve learned some from Dave but am not there yet and don’t fully subscribe to all the methodology he shares.

[@mikejautosandstuff3349]

A few months ago I bought a new 2020 Toyota Supra at 4.5% for 72 months Toyota fianance. Got the rebate too!!! I’m 722 credit on Experian. Would a car FICO SCORE BE HIGHER???

[@briangasser973]

Surprised the rate for the Supra was pretty high, I thought they werent selling so well. I had an '86 Supra which was my first car.

[@briangasser973]

Surprised the rate for the Supra was pretty high, I thought they werent selling so well. I had an '86 Supra which was my first car.

[@mikejautosandstuff3349]

Brian Gasser this dealership had no markups. But was a one price dealership. They had 5-7 Supra s in lot. In one month since Toyota Supra had a $3,500 rebate they all sold!!! I bought the last one. Black was the only one left. EVERY OTHER TOYOTA WAS STILL MARKING UP THE DAMN THING!!!

[@Rainissick]

Hey I’m about to get the new 400z I have been working on my credit for 2 years and my 3 scores from the bureau’s are 700+ I came from a 535 credit score also 2 years ago and I have worked hard on it am I good for the car ?

[@mikejautosandstuff3349]

@@Rainissick yes 👍 u are!!! 400Z?? Ha, get ready for a big big down payment man!!! Most dealerships are probably going to accept no less than a $10k markup on the new Z Car. Good luck 👍

[@B-Reel420]

Can we get an updated video on this topic? The rates seem to be much higher now

[@nokoolaid]

Interesting. My bank uses vantage 9 FICO and my score in prime, but Credit Karma uses vantage 3 and it's barely prime. I don't know what my auto FICO is.

[@madalynmoth4263]

Hello. Is ones “auto fico score” a different number than the normal fico score? Thanks.

[@originalunoriginal4055]

I had no clue about APR, all these interest rate meanings. So I started to watch this video to understand, and can honestly say that after finishing watching this video, my knowledge is the same as when I clicked on this video!! 🤯🤯🤯🤯 I have 000000 clue what all this means. 😂

[@mikael2189]

Is there an updated video? I’m in the super prime category but the interest rates that have been offered to me are between 5.7-9.9% as of September 2023

[@dreaking76]

Hey Ray, Why would a dealer not be able to get a title if the truck is on the lot?

[@dougbriggs4176]

Good Afternoon Gentlemen

[@elainemiller9062]

Great video. I see a lot of people going in blind about this stuff!

[@Gunzandroses212]

If I have a say around 640 credit score and I put down 20% down payment on a 37000$ car included already with title registration license fees. Do I have a high chance of getting approved for the loan at 60 months or 48 months ?

[@batmayne2935]

Did you try this?

[@youngtimer964]

Save up, pay cash. Trust me, you’ll be glad you did.

[@almightyjae2385]

Why not save cash then get the lease

[@youngtimer964]

@@almightyjae2385 leasing is a losing proposition

[@NeverTalkToCops1]

Or invest the cash, get a good loan.

[@10ksmash84]

Ok if your standard credit but your down payment is good could that interest rate drop? Say if the car is 45k but you drop like 8k on a down payment with standard credit with that interest drop

[@gkvogt]

Hi guys. Love the show.

[@CarEdge]

Much appreciated! -Zach

[@TheMMAMoneyMinute]

Would you happen to know what’s the most common Fico Auto Score used in the industry? Is it the 542, 8, or 9 scoring model?

[@kennethstarr5545]

So, a used car is a higher interest rate. Ok, but the bank isn’t the one footing the bill for the repairs. Is there a high rate of people not paying their loans if their cars breakdown or is this just another way to legitimize higher rates? Because what I see is if people have to go to another car they tag the other loan on if they can or simply repair it. I get a higher rate if they are including another loan.

[@TheOneshot78]

2.1 percent for me...check your credit unions.

[@chasehartmann5074]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@williamhauser3686]

What the eff!! I'm super prime, yet every place I go offers me a 10-13% rate

[@angelajohnson4095]

Thank you. God bless you both

[@roolyfe]

What is the breakdown of FICO Score?

[@heaventime9148]

I’m ready to trade my vehicle in hopefully for a pre-owned…I’m currently with one of the dealer’s bank…paying 10% interest…what should be my next steps?

[@jenarizona1102]

Last week, a car dealership tokd me only those with verified W-2 income or a furlough letter with a return to work date are able to get loans right now. He said anyone who is self employed or unemployed can't get a loan from any lender right now.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@a.m9199]

There is nothing more to life than working with PARAGONOFFICIALS🎡COM credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my creditscore but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market Board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and Boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar issues, i mean you need a good credit report why not visit PARAGONOFFICIALS🎡COM ), visit their Page get their Information and contact them we all deserve to be happy

[@socallawrence]

Good video !

[@darienbaholli1612]

Love your videos Ray! What would be a fair offer to put for a CPO 2017 Mercedes with 30k miles priced for $35.9k. Just in general from your experience. I appreciate your answer

[@CarEdge]

Darien in today's world where dealer are paying much more for inventory, it is hard to say. I would try for maybe a $1500 discount and see what they say. Stay safe, Ray

[@svca12218]

Great channel and video. Why isn't this taught in High School?....oh yes....people with money do not need credit. They succeeded at making almost everyone consumers....now they are trying to make everyone renters.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@abrahamposada7201]

Could you guys do a update on todays interest rates?

[@ChasingDreamsLivingLife]

But which version of the auto fico score is being used? version 3,4,5,6,7,8,9?

[@PrivatePrivate-do2on]

Resources mentioned: -- Bankrate.com -- myfico.com Super sub prime:

[@stefanfeinberg6675]

Do you have a video on Buy vs Lease, which is better and why?

[@CarEdge]

Stefan, take a peek here: yourautoadvocate.com/guides/buy-or-lease/ -Zach

[@kwazy2893]

Do credit tiers just allow a dealership to just mark up the financing rather than pass that along to the customer? I've heard you say in the past that dealers negotiate with the banks but do they have to pass those savings along to the customer? How would you know what they are marking up those rates?

[@Anon1mous]

You wouldn't. Get financing ahead of time from your credit union so you know what your rate already is and see if they can offer a lower one.

[@Upracefan]

Where are you getting those high rates? Local credit unions around me are 3% for new or used.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@suplex57]

We need an update to this video

[@calvindang1276]

How do I personally contact you? I have a question that I would prefer not to ask in a public forum. Thanks

[@CarEdge]

Calvin, you can email me at [e-mail]. I look forward to hearing from you. Stay safe and thanks for watching, Ray

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@moose354]

Experian has a free account where I get my updated Fico 8 score every Sunday. I won't fill out a credit app at the dealer. I will show them my 822 Fico 8 score and tell them to show me the best that they can do. I won't tell them what my approved rate is, I will let them guess and work harder to beat it. If they can't beat my rate, they won't get my business. If they do get my business, I would be happy to fill out a credit app at that time.

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@retiredtidepodeater3339]

You obviously have no idea how this works lol...

[@user-tz5uq2bt1s]

Why would anyone ever buy a bond with a negative yield? It seems you'd be better off just stuffing the cash into your mattress at that point.

[@infinitedev2697]

I just started with my credit card like 8 months ago I have a 700 credit score but I’m not sure if that’s good considering I just started.

[@dexterjules]

I've just gotten a 3.74 on my auto loan so I must be extraordinary prime

[@stilliraise9201]

Good news . My credit union just found out that I have cero credit score. I'm screw. That's when I opened a secured credit card and a certified of deposit.

[@NeverTalkToCops1]

That's a good start to building good credit.

[@paulbingville6485]

Just checked with my credit union. Their lowest loan rates are 1.99% for a new car and 2.94% for a 2010 or newer used car. With a credit score around 810, am guessing I'd qualify for them.

[@CarEdge]

Paul I would certainly think so. Stay safe, Ray

[@dBsdecibels]

Negative rates is crazy, but I'm more worried about a negative yield curve! We'll be negative rate soon enough. The bond markets are clearly indicating it's inevitability. Sorright, I made some money on the recent gold move and will wait a bit longer to refinance my home!

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@Slash-is3yu]

Thank you

[@richardii6045]

Does having child support debt have a drastic effect on my purchase for a car?! Thanks

[@chasehartmann5074]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@richardii6045]

@@chasehartmann5074 thank you so much for the great information, there are still great people in this world ✊🏽

[@sehajfnu-jm9ks]

I have a 720 score, am a first time buyer , with a one year credit history and trying to buy 60000$ car , what are chances to get approve with 10 percent down

[@CarEdge]

It depends on information that you haven't provided. How much do you earn? How long have you been on your job? How long have you been working in your line of work. What do your other expenses look like? What is your 720 credit score based on? How much other debt do you have? Without that information it would be hard to say whether or not you would get approved but as a lender why would I want to risk making such a large loan to an inexperienced first time buyer? My guess is that you would not be approved and my suggestion is that you would start your auto loan experience by looking at a $30,000 or less first car. All the best, Ray

[@stevenmeadows6917]

1:39 "Lowest he ever saw was 297" ? LOL, now I don't feel so bad :)

[@larryford9732]

Why does an app like Credit Karma show a credit score that seems to be higher than Fica score?

[@santi961]

They use a vantage score which no one looks at

[@larryford9732]

@@santi961 Ok thx. So basically the CK score is useless when you want to see what your real score is?

[@santi961]

@@larryford9732 yea, from what I've heard dealerships look at ur FICO Auto score, so checking your FICO 8 might give you a better picture

[@watersrising8044]

Left unsaid, how is the auto FiCO score determined? I’m assuming if you have a good credit rating you have a good auto FICO, but you don’t tell us anything about that. Why would anyone pay $20 to find out, if it’s the same? If it’s not the same, what’s being evaluated? Thx.

[@NeverTalkToCops1]

Ignore auto fico. Shop for your money armed with your normal fico score and credit report. "Auto fico" is utterly ridiculous. Run from that.

[@eljam82]

Can you prevent dealers running your credit multiple times generating various hits on your credit?

[@a.m9199]

There is nothing more to life than working with PARAGONOFFICIALS🎡COM credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my creditscore but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market Board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and Boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar issues, i mean you need a good credit report why not visit PARAGONOFFICIALS🎡COM ), visit their Page get their Information and contact them we all deserve to be happy

[@NeverTalkToCops1]

Yes, secure the best loan rate from your own shopping at banks. Never go with dealer financing, it's almost always at a higher rate than banks and credit unions.

[@Tiny_Speck]

If multiple companies pull your credit score multiple times within a two-week period, all of those pulls gets rolled into a single credit pull. Even if you technically had 10 companies pull your credit within those two weeks.

[@mindfulnessorganix1588]

What if I got a O credit score and want to finance a used car

[@edstoy-o-rama4004]

Helping my niece buying a rav4. She has a 777 fico. Would she qualify for the Toyota 1.9% thats offered on the website

[@CarEdge]

Ed, I would think that she would but it depends on the depth of her credit history, not just the score. Stay safe, Ray

[@edstoy-o-rama4004]

@@CarEdge thanks. We will be going to pick the car tomorrow. 🤞hopefully everything goes smoothly.

[@rabbirhassan6940]

What would be the best suggestion and tips to get from a 750 score to 850 ?

[@brad_neal]

Solid on-time payments over an extended period of time, debt to income ratio, and length of good, established credit - like 20 years of credit history with one or more lending institutions.

[@rabbirhassan6940]

Brad Neal thank you I got mine to 750 in under 2 years and have been keeping it strong just wanted to know how to just get to the 800+ mark

[@brad_neal]

@@rabbirhassan6940 Good for you, Rabbir. It takes determination. What I described is how I did it. I'm at 849. Have been trying to get to 850, but I don't think one can. But hey, I'm good with 849.

[@rabbirhassan6940]

Brad Neal you got this brother you will get that 850 score dw have a blessed day.

[@santi961]

After 760 you're not going to get more favorable rates no matter how high it is.

[@sicasni]

good news, you're approved! cash only. lol

[@anthonymalovrh2912]

Home mortgage rate is near 5% now.

[@dell7443]

Does anybody know any car dealership in Houston that only check transunion or eqiafax? I most shops check equiafax in the midwest

[@kathrynbrock4495]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@NeverTalkToCops1]

Shop around for your loan every place else besides and before the dealer.

[@prettyredlipscreation1940]

I just Financed a car That was $15,000 But with dealers fees and taxes it came out to $17,000 I put down $8,000 in cash My credit auto score was 750. The dealer gave me an interest rate From a bank called ally financial Of 8.54 I told him that's high and I didn't understand why that was the only low interest rate he could find me because I had such a good credit score? His explanation was that Since it was my 1st time financing something that's why my interest rate was 8.54 I didn't understand why either if I put Almost half the money down on it as well.... I truly believe I had a bad deal and the dealership was called greenlight auto in bethany Connecticut! Actually I use your app on that vehicle And your pricing was a little bit lower on the walk outprice versus his pricing I believe That I had kind of a crooked deal And I had to give them $500 down for them to run my credit score that was not refundable. And if I didn't want to vehicle after my credit squirt was ran I cannot get the money back not get the money back. So I kind of felt forced and locked into the deal as well. I can sit there and say this was a bad 1st experience and I was very highly upset and felt like I was robbed and had a bad deal‼️‼️😡😡😡 What are your thoughts on this??

[@NeverTalkToCops1]

Sad. You learned some tough lessons here. Shop for your money first, then your car. Charging $500 to grab your credit report is a horror.

[@marystrong7211]

Is it possible to get the dealer to supply an amortization table on your car loan so that if you wanted to pay down the principal faster, you can know approximately where you are?

[@CarEdge]

Mary you would have to ask the bank that holds the loan for that info not the dealership. Stay safe, Ray

[@Dannny_Mac]

How do you finance a car when your on SSDI? PLEASE ANSWER THIS QUESTION.

[@BethelPJ]

The same way as other people. You still have a source of income

[@Mr._X84]

Type it in, Google is your friend man.

[@CarEdge]

Dan sadly you might not be able to. Have you tried? Let me know. Ray

[@Dannny_Mac]

Your Auto Advocate I tried with Carvana online. They told me lenders won’t lend me money because they can’t attach my wages. I receive $ 2,100 a month tax free a month. I really don’t want to go to a buy here pay here dealer for all the reasons you mentioned in a recent video. Thanks for any advice. Love your Chanel been watching for a long while now.

[@0pelman]

@@CarEdge My wife is on SSDI and workers comp and financed a Hyundai Elantra at 0% for 72 months - we just put $1k down to cover tax/tags. For 'occupation' she wrote 'retired' and for household income, she put our household income which is my salary and her SSDI/WC. Her credit score was 845 and she was approved in seconds. The source of income doesn't matter as much as the amount, and payment history with previous loans. Her low debt to income is a big factor, too. If someone is on SSDI and they're getting $700 a month and there is no other household income, getting a $20k car loan will be a no-go but only because of the amount of income, not its source.

[@jonkeefer6865]

how close/similar is cc fico vs auto fico? credit karma is free, but i hear it's significantly lower than actual score.

[@chasehartmann5074]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@NeverTalkToCops1]

Use normal fico only. "auto fico" sounds like a scam.

[@looking511]

bank of America 2.9 % in case anyone wants to know

[@randyharbaugh7819]

with what credit score?

[@619elephant9]

@Mario S. 99% of people can't pay cash.

[@MrCpalme12]

How about this if you buy a car with toyota and you become a loyalty customer that means you come back everytime after 12 payments, with a 580 score you could qualify for 1.9% to 2.9%..... and this is a fact... only qualifier is no deferred payments in 12 months, 12 payments.. 580 score, and a repeated customer

[@chasehartmann5074]

I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC called Michael Gibbs [[e-mail]] who I was referred to by my colleague, they helped me improve my bad credit, erased all the negative items affecting my score negatively and pay off collections. I now score an excellent 790+ across all 3 major bureaus. Feel free to reach out to him for help at [[e-mail]] for excellent credit score.

[@sandraboyle5993]

Credit Karma is free

[@cherylboyer1737]

How does the auto fico score differ from the general fico score. What factors account for the difference?

[@cherylboyer1737]

@@needtoknow1989 So.....they put MORE weight on pmt history than does the ordinary FICO? I think it puts a lot of weight on pmt history as well in addition to credit usage relative to total credit limit. I guess I am still confused

[@NeverTalkToCops1]

Pay no attention to "auto fico". Your bank uses the authentic fico. Don't get bamboozled. Shop for your money first , then shop for your car.

[@borntoexplore982]

@@NeverTalkToCops1 How do you know that they don’t use auto fico scores?

[@9897samf]

My FICO is in the 760's but my auto FICO is in the 720's because I do not own a car. It is still pretty good though.

[@josearellano3670]

That’s exactly how mine is too

[@Fee.1]

When is Rays 45th birthday ? He's what 43ish?

[@stephenboland4059]

Good night

[@russchatman2351]

Can you get your fico score from a credit card?

[@traxiii]

Discover includes it on their website.

[@sunnohh]

Soverigns can have negative yields, no big deal -Economist