While there are all different types of car loans that are available today, there is nothing that will be more rewarding to you than one that you are able to get with your good credit. If you have been working hard to ensure your credit score is right up there, you should be able to get incredible financing on a new to you vehicle. The team at Half Price Cars will be happy to help you to secure good credit auto loans in Edmonds so that you can drive away in the vehicle of your dreams.
You will always find that your credit score will be very important as you are shopping around to get a great rate on an auto loan. This is something that the lenders take into consideration as a point of reference. In order to ensure you are building up the right score to get you results, you need to know the breakdown that the lenders refer to:
- Excellent Credit Score – Between 740 to 850, which will usually yield about a 3.2% interest rate on average
- Average Credit Score – Between 680 to 739, which will usually yield about a 4.5% interest rate on average
- Sub-Prime Credit Score – Falls from 679 to lower, which will usually yield anywhere between 6.5 to 12.9% interest rate on average
What your credit score can do is help to paint a bit of a financial picture of you for the lending institutions. They look to the score that you have to help them determine just how likely it will be that you will pay back the loan that you are given for the purchase of your new to you vehicle. However, when you have a poor credit score, you will have a much tougher time getting the interest rates that you are looking for. In some instances, it may be nearly impossible to even get a loan at all.
However, if you are in the optimal range for an auto loan, you should be able to get good credit auto loans so that you can enjoy a nice rate for all of your hard work that you have done to take care of your credit. There can be a number of factors that go into the determination of your credit score, including the types of loans that you have had, the length of time you have had them, and the amount of revolving credit. You could also find that there are mistakes that are listed on your credit report that could easily be resolved with just a few phone calls to the appropriate people.
When you are ready to get into a good credit auto loan on a previously owned vehicle, you can guarantee that the Half Price Cars will be there with the vehicle selection and pricing that you need. Our professional finance team will be happy to show you all of your options to get you the amazing interest rate that you need for your good credit.
You should be rewarded for your good credit. Call us today at Half Price Cars at (425)419-0150 and we can discuss good credit auto loans in Edmonds.