Is my credit score too low?
Todd, We have a good friend that purchased an Optima through the dealership. Our situation is different. I have a credit score of 680. Is the score too low to qualify for low rate financing on an Optima? We will have $2,000 down with no trade.
Micah, thanks for the question! I’m curious as to what source you are using to know that you have a 680 score? What I have found in this industry is that there are several criterion that are used for purchasing. If you are buying a house they (the lenders) have a certain list of things they think are important and will allow them the best view of you and your history to ensure repayment.When you are buying a car it is a different list. I have people that monitor their credit from home and think that the scores they see on those reports are the same scores a lender looks at when determining their risk in a car deal. I have found the people that come in with a score from a monitoring system appears around 100 points lower than what the lenders see. Kia finance will usually offer low financing to scores higher than 670.
Royal Automotive/Lexus of Tucson