Research suggests that 20 percent of car loans go to applicants with credit scores below 600, so having an average or low credit score doesn’t automatically mean lenders will deny you a loan.
However, the higher your credit score, the more likely you’ll get approved. Furthermore, you have a greater chance of securing better terms and lower interest rates.
It’s also important to remember that a credit score is not the only factor when it comes to determining the terms of your loan. When other details come into play, having an experienced finance expert at your side of the table can make or break your ability to secure a loan.
While a pre-owned vehicle can be less expensive than their new counterparts, many of our customers still opt for used car financing.
Fortunately, our finance professionals work with customers who have a wide range of credit scores and they know a three-digit number doesn’t always tell the whole story of your financial picture. We aim to understand your situation before negotiating with our lending partners so we can earn you the most competitive rates.
If you’re looking to secure financing for one of our used cars for sale, fill out our online finance application today. You can also calculate your monthly payments and determine the value of any applicable trade-in vehicle to speed-up the car-buying process for when you visit our Kissimmee area dealership.
To learn more about financing or the best way to secure a loan, contact us Universal Used Car Superstore.