What A Low Credit Score Means To You

Your credit score is the most important factor determining if you'll get approved for a car loan, and what your APR will be. If your score is low, you'll pay extremely high interest rates on a car loan, up to 23%. If your score is below 750, you can forget about getting that elusive 0% car financing we hear about once in a while. Are you aware your credit score affects how much you'll pay for car insurance rates? Maintaining your credit score should be an ongoing process, not a task you rush into when buying a new car. In fact, that's the worst time. The reason is banks will reject you if you have disputed items on your credit report, until it resolves. It can take 60 days to clean up your credit score, so don't apply for any credit until all disputes are resolved and you verified your FICO Score. You have been warned! I have seen people get rejected for applying while closing accounts. Right now, you should be asking yourself "How good is my credit score?"