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Auto Credit Financial defines the Anatomy of a Credit Score
Auto Credit Financial's CEO Mark Hergert defines the Anatomy of a Credit Score get the scoop on your credit score and how it could affect your ability to purchase a new or used vehicle.
Your credit score (FIG) determines the type of auto loan rates you qualify for at any bank, merging credit or financial institution. We offer tips, tools, strategies and solutions for resources to later improve your credit score (FICO) before purchasing the car. We offer user-friendly tools to improve credit, both for the do-it-yourself and those seeking a stress-free experience rebuilding credit.
Whether you are a Prime, sub prime, or high-risk borrower, knowing your score (FICO) will help you negotiate the best interest rate on the loan. Each level of the borrower (first, sub-prime and high risk) has a range of interest he or she is qualified for based on their credit. To know what the interest rates you qualify for all will help you approach a dealer with confidence, because you will have realistic expectations on your current financial situation.
The FICO scoring system uses 5 pieces of information:
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