Credit Score Needed To Secure a Car Loan

TORONTO - May 11, 2022 - PRLog -- You are going to need to understand what your credit score is if you are looking to get a car loan. We have made a guide in order to help you understand where you are with your credit and if your score is enough to meet the minimum requirements in order to get approved for a loan. Dive in depth for everything you need to know!

Credit Score Explained

First off, lets define that a credit score actually is. It's a calculation that takes into account certain financial documents that allow lenders to know if you are able to be reliable to pay them back. These documents include a credit report, which contains the debt owing, payment history, length of credit history, credit types, and more.
  • 300 to 559 = Poor Credit Score
  • 560 To 659 = Fair Credit Score
  • 660 To 724 = Good Credit Score
  • 725 To 759 = Very Good Credit Score
  • 760+ = Excellent Credit Score

How We Can Help

Our financial team works closely with all our customers to make sure that we can get you a car loan, no matter what your credit situation is. If you are in the market for a used vehicle and a loan, make sure to contact our dealership today! You can also learn more about our financial options on our website!

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Good Fellow's Auto Wholesalers
1 (855) 581-9590
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Tags:Car Loan Credit Score
Location:Toronto - Ontario - Canada
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