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Posted in Auto Insurance
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aj6870

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trying to get a 30thousand car cs740, can i get approved and make a zero down payment.FIRST CAR

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Yoour credit score doesnt matter

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Your score is pretty much worthless really.  It's the details in your actual credit report that make the difference. 

First of all, you have to understand the difference between your credit report (the info that really matters) and your credit score.  Your Credit report isn't actually a score at all, but rather, it's the information and details of your reported financial history (AGAIN, there is NO SCORE on your actual credit report) 

And your credit score is the number used by a special calculator the lender is using to evaluate the information in your credit report.  There are thousands of calculators out there that measure the information in your credit report differently and they all use the same information from your credit report to calculate a completely different score than other calculators because of the way they calculate certain items (typically the items that matter the most to the lender).

So to answer your question...... it really depends on what your lender sees on your credit report compared to what they want to see in order to qualify you for a loan from them.

So what does all this mean?  It means just because one lender pulls your credit and denies you for the loan amount you are looking for, doesn’t mean every lender out there will do the same given the same information. Most auto dealers will often pull your credit once, and just forward that over to the lenders they are fairly confident to work with the credit report they already pulled.  This way they can shop your credit report around to multiple lenders without having to preform multiple credit checks on your credit - and effectively keeping your score from decreasing too much simply because your credit report was reviewed for a single loan application.

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