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what is a "well qualified buyer" for automobile special financing 0%

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ori68
New Contributor

what is a "well qualified buyer" for automobile special financing 0%

im thinking of getting a new car or truck. what is considered a well qualified buyer? I would imagine it would be someone with no auto repo, but does anyone have a fico score to aim for?

Discover FICO 759(04/15)
Barclaycard FICO 763 (04/15)
Citi FICO 736 (04/15)
BOA Experian 744 (05/15)
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Remember0
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Re: what is a "well qualified buyer" for automobile special financing 0%

It depends on manufacturer. For the top tier, I've seen cutoffs from 680+ Auto enhanced FICO (usually much higher than regular if you have good auto/installment history) to 740+ Auto enhanced FICO.

 

For the best rates, I've often seen Tier 0 (like super prime) and Tier 1 (prime) qualify so often 720+ is fine. Some manufacturers like Toyota generally extend it all the way down to 680+.

 

It should be noted that you qualify for DCU's 1.99% for 65 months deal if you have a 675+ EQ FICO (most likely not an auto-enhanced score). Their next "tier" (below 675, not sure on the cutoff) drops you all the way to a ~5% APR so that's not as good a deal.

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ori68
New Contributor

Re: what is a "well qualified buyer" for automobile special financing 0%

Oo thanks. I have I feel a little better about applying for a auto loan now. Smiley Tongue

Discover FICO 759(04/15)
Barclaycard FICO 763 (04/15)
Citi FICO 736 (04/15)
BOA Experian 744 (05/15)
Message 3 of 3
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