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Posted in Auto Loans
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teenichee

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i want to purchase a new volkswagon beetle convertible. my credit score 709?
will i be able to get a decent loan?

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Short answer is YES, you should able to get a auto loan at decent rate base on the score of 709 alone... BUT, no one here can tell you with any certainty as to what specific rate you will get. There are many other factors goes in to determine what interest rate you might get, that's if you get approved at all...

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Depends on what types of credit score it is and where you got it from? That score might very well be irrelevant, because credit scores are industry specific, dealership/lender uses different types of scoring models, there is a separate auto credit score from your other scores, the score you see/buy are usually for credit card/new account scores. To complicate matter bit more, there are different versions of auto score (same with your other scores) and different credit bureau uses different versions, it depends on which credit bureau your dealership/lender pull your score from at the time you apply? your auto scores can be wildly different. Tho each reflecting your credit file accurately, among other things? they might weight bad activities differently, some might weight paid collection same as unpaid, while other version might weight paid collection less or none at all... And your incomes, length at that job and debts will also contribute to what interest rate/amount you will get.

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