Tuwaze.com 1321 Members 231 Friendships Home Guest Log In Contact Us
How It Works Tuwaze Youtube



Post Free Advert

View Classifieds 264

View Articles 176

View Groups 12

View Organisations 6

Freelance Jobs Available 0

View News

Questions / Answers 78

Post Article Writing Jobs

We Write Your Web Content

Learn How to Speak Swahili

Who Is Richer Now

Featured Entrepreneur tuwaze.com
Featured Entrepreneur tuwaze.com
Featured Entrepreneur tuwaze.com
Featured Entrepreneur tuwaze.com

How FICO Score Affects Getting a Car Loan


Fair Isaac Corporation (FICO) Score refers to a category of credit score, which is used to prepare a credit report. This report is used to assess the applicant’s risk on the provision of credit, which also determines if the applicant’s current loan can be extended. To identify an individual’s credit risk, FICO Score takes into account your payment history on your credit, your current credit balance, your type of credit as well as the new credit. On average, a person’s score should be between 300 and 850. Persons with very good credit have FICO score of 650 and above. However, anything below 620 raises a problem when the need to obtain financing at a better rate is necessary.

FICO Score and Auto Loans

Auto lenders refer to your FICO Score in an effort to determine the rate they can offer you when seeking to obtain an auto loan. You may determine the amount you need depending on the car you want to purchase but the interest rate is dependent on several factors. The added advantage of maintaining a high credit score is that you will be able to qualify for a higher loan that are accompanied by lower interest rates.

Those with a limited credit history, low income or have had bad credit in the past can seek the assistance of consumer portfolio services. It plays a key role in purchasing and servicing of retail automobile contracts from specific independent or franchised auto dealers. This alternative source of financing will still look at our FICO Score to help determine the much they can finance without increasing the risks involved.

Why the FICO Score Matters

- It is part of the industry standards that must be looked into by every lending company.
- It is a key determinant on the amount of money you can borrow from a lender as well as the interest rate the amount will attract
- A good FICO score entitles individuals to better and more appealing interest rates even with a higher loan amount

Effect of Credit Scores on Auto Rates

With an excellent credit score (720-850), you can be sure that you will receive some of the best interest rates for your car loan while at the same time the lender will offer you a 100% loan request. In reference to loan repayment terms, they will be flexible and more likely as requested by the consumer. This is because they have a good credit history and they tend to keep to the repayment terms as agreed.

With a good credit score (680-720), are not a threat either but lenders will adjust the terms of application. These consumers still hold a bargaining power from the auto lender. They will receive relatively good interest rates but they are not in the same rank as excellent credit score consumers.
With a fair credit score (620-680), these consumers can still make a request on the amount they need and still influence the interest rate but the auto lender is cautious about this group. It is however advisable that you improve your credit score before making the decision to buy a new car.

With a poor credit score (350-640), this is a concern for many auto lenders but you can still work your way through t getting a car loan. Your request will probably not be financed fully and the lender has a better bargaining power. In this, the consumer will be compelled to work around the lender’s terms and conditions. This increases the interest rates to pay back.


Before seeking to get a loan for a car, it is best that you first boost your FICO Score to enjoy better interest rates rather than higher interest rates. In addition, you stand to hold a better bargaining power so you can influence the terms and conditions for your repayment period and periodic installments.

Qualifications to join: Entrepreneurs Self driven individuals
Unique business ideas Promoters Freelancers
Young Business owners Affiliates Hustlers
Innovators Mentors Investors

Register Here

First Name
tuwaze code Enter the code in the image here

We Write Your Web Content

Are you looking for high quality SEO Content at very reasonable prices?

- Articles
- Blog posts
- Press releases
- Article Rewrites
- Product Reviews
- Product Comparisons

Look no further. At Tuwaze.com we have built a team of highly experienced writers.

They will thoroughly research, write and deliver all your web content on time.

Our pricing is very reasonable and will make sure you get exactly what you want, when you want it, the way you want it.

We offer revisions if there is a part of the article you feel was not addressed as you'd like.

Steps to follow:

- Register
- Post your job
- Pay
- We'll take care of the rest
- Contact Us for Details


Doers Only Allowed. We Rehabilitate Procrastinators too.

Are You a Very Good Writer? Answer Question

Corruption Answer Question

how to earn?is it through mpesa? Answer Question

how do i earn?is it sent to mpesa?someone help Answer Question

business ideas Answer Question

Where can I get genuine work at home job opportunities? 2 Answers

What are the different types of start-ups? Answer Question

What is Venture Capital? Answer Question

What is the difference between Merger and Acquisition? 1 Answer

How do you improve work collaborations with social media? 1 Answer

How do I deliver a great business pitch? Answer Question

Should I hire a contractor or an employee? Answer Question

Do you know any great mentor website? Answer Question

What criteria to follow when divesting your investment portfolio? Answer Question

How do entrepreneurs stay self motivated? Answer Question

Who is a travel writer? Answer Question

Who is a ghost writer and what do ghost writers do? Answer Question

What are your Small Business Ideas? 1 Answer

Where Do I find Entrepreneur Jobs? Answer Question

What are the Best Entrepreneur Websites? Answer Question

How Does BBB Best Business Bureau help Entrepreneurs? Answer Question

What is the Definition of Entrepreneur? Answer Question

How does one get to have a paypal account. 1 Answer

What is a Tax free Savings Account? Answer Question

Who is a Netpreneur 2 Answers

How Do I Copyright My Website Content? 1 Answer

How Does a Social Website Generate Revenue? Answer Question

What is Drop Shipping? 1 Answer

How Do I make Money Online Writing Content? 1 Answer

How Do I Make Ad Revenue on Youtube? Answer Question

What is AdSense and How Does AdSense Work? 1 Answer

How FICO Score Affects Getting a Car Loan
Fair Isaac Corporation (FICO) Score refers to a category of credit score, which is used to prepare a credit report. This report is used to assess the applicant’s risk on the provision of credit, whi

5 Best Free Video Editing Software
Why Do You Need Video Editing Software?We live in a world that is full of videos. It is highly unlikely that a day will end before you watch a video, be it on YouTube, Vimeo or even a simple vine. Wit

William Shakespeare,the greatest writer of all time.

10 Ways an Entrepreneur can Make Money from Football
Football is arguably the most watched sport in the world. It is a sport that enhances social life and mental capabilities as people meet and discuss tactics, the chances of a team winning and so much

New Business to Business (B2B) Ideas for 2015: Link with The Best
The employment industry is proving to be saturated and more individuals leaving their academics are venturing into entrepreneurship. To create a competitive advantage, individuals are emerging with gr

The Basics: Under Eight (U8) Soccer Drills
Football or Soccer? However you may referee to it, one thing remains certain. Soccer is one of the most celebrated sports in the world. It is watched by millions of people and played by thousands eith

Benjamin Foster
Ben Foster is an American actor who has made it large in the entertainment industry. His parents owned a restaurant with his father Steven Foster and Gillian Kirwan as his mother. Looking at the rest

How to Get Twitter Followers
Social media has grown so fast to become the most active internet platforms. Through social media, we chat, talk, exchange ideas, exchange pictures: name it. They are all done through social media. Th

Skin Whitening Forever: For That Radiant, Brighter, Even Toned Skin
The skin is the largest organ of the body, literally covering the entire body. It protects the body from external factors that may damage the body. As a result, the skin comes in contact with numerous

Best Android and iOS Games
Technological advancement is reducing phones and tablets to practically a source of entertainment. IOS games are giving android a run for its money. Many players are indicating that iOS has good games

5 Essential Online Business Tools For Entrepreneurs
With the job market seeming ever so elusive, employment is fast becoming a far-fetched idea. For many people, the thought of starting their own business is more welcomed and accepted. Becoming an entr

Determining Bitcoin Value
Bitcoin value and bitcoin price are totally two different things. Price indicates the monetary value whereas bitcoin value is indicated by its features, its subsequent network and the ongoing innovati

Pay Off Debt or Save for Retirement?
It is important to start saving early for retirement. Different individuals retire from their place of work for different reasons. Though the reason everyone is familiar with is the aspect of age, the

Oakley Men’s Flak Jacket Iridium Sunglasses
If you have heard of fashion meeting sports, then definitely you know about the Oakley men’s flak jacket iridium sunglasses. These are all round sunglasses that can be worn in any given environment.

Tuwaze.com Get Your Site Listed for Free on Google Yahoo Bing
Tuwaze.com Beauty and health
Tuwaze.com Air Bra ( Aire Bra ) Rs.2, 499
Tuwaze.com Hanuman Chalisa Yantra / Rs.2, 499
Tuwaze.com Air Sofa cum Bed_ Air Sofa Bed/ Rs.3, 750
Tuwaze.com Slim24pro_ Slim 24 Pro_ Slim Pro/ Rs.3, 400
Tuwaze.com Body Buildo Powder_ Body Buildo /Rs.2, 600
Tuwaze.com Fair Look Gold_ Fair Look Cream /Rs.1, 950
Tuwaze.com looking for services from a cleaning company?
Tuwaze.com Buy Air bra Online at Best Price
Tuwaze.com Air sofa cum bed buy at best price
Tuwaze.com Original No Addiction Herbal Powder
Tuwaze.com No Addiction Herbal Powder
Tuwaze.com Buy Stepupheight-increaser Powder Online
Tuwaze.com Step Up Height growth fomula Buy Online
Tuwaze.com Original Fair look cream Buy online
Tuwaze.com Buy Fair look cream Online
Tuwaze.com Fair look cream Buy online
Tuwaze.com Buy Original Sandhi Sudha plus
Tuwaze.com Free Website for 1 Year
Flag Counter
  Copyright Tuwaze.com© 2015 All rights reserved Privacy - Report Bug    
  Vulnerability Scanner