Credit scores go a long way in determining what kind of interest rate you might be able to expect on your auto loan. Those buyers with a good credit score can expect to have a lower interest rate and a higher loan amount than those buyers that get auto loans with bad credit.
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However, there are many advantages ot getting a bad credit auto loan including the fact that a bad credit auto loan may be able to help improve your credit. Here are a few things that you need to know about getting an auto loan with any credit score:
Credit scores have an impact when it comes to securing an auto loan, your credit score will have an impact. Your credit score is an accumulation of your credit history. If you have a good credit score (one over 700), chances are greatly improved that you will be able to qualify for a good auto loan.
Generally speaking, a good auto loan is one in which you will be able to get a high loan amount with a small interest rate. Therefore, people with good credit scores are often able to get more advantageous auto loans. However, we offer auto loans to all of our customers even those customers with bad credit or no credit.