How to Qualify for Good Credit Auto Loans in Snohomish
March 26, 2015
How do you know if you are able to qualify for the myriad numbers of good credit auto loans in Snohomish? Your first step on this exciting journey is to request a copy of your credit report and credit score from at least one of the many agencies who can provide this information. A “good to excellent” credit score range can vary significantly between the different scoring models, as is evidenced below:
- Equifax – 280-850
- PLUS – 330-830
- TransRisk – 100-900
- FICO – 300-850
- VantageScore 1 & 2 – 501-990
- VantageScore 3 – 300-850
Obviously, the higher the number, the better your credit score. This does not mean that you will be unable to secure car financing with poor credit. Actually, the reverse is true. A number of options are available if your credit is less than desired. However, a good credit score will guarantee easy approval for an auto loan, a much-desired lower interest rate and overall lower payment over the term of the loan.
Your credit score is carefully computed and evaluated by examining a record of your payment history for your outstanding debts, like a mortgage, medical expenses and credit cards; the amount of debt that you have accrued and from how many sources and how long you have held these accounts. Simply paying your bills on time is not enough to ensure an optimum credit score.
To learn more about good credit auto loans in Snohomish and for a large selection of premium used vehicles in Western Washington, call Fresh Start Approval at (888)348-3290. Our sales professionals are ready to guide you through the pre-owned car buying process from start to finish.