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name=page_top></a>Auto Loan Providers - Auto Finance Credit Guidelines</strong></h1> <p>Credit quality is usually divided into Tiers. Used as guidelines for estimating your current credit rating, the tiers described below will help you determine which category you fit into prior to applying for good or bad credit auto finance. When in doubt, get your true credit score. </p> <p align="center"><img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;<a href="http://www.tkqlhce.com/click-1193065-10436265">Click Here To Find Out How.</a><br> <br> * Credit History = all tradelines reporting within last 10 years <br> <br> ** Tradelines = Auto, Mortgage, Installment, Credit card reporting to Credit Agencies</p> <p>Your requirements and auto finance lending terms will vary depending on the auto loan lender and your good to bad credit profile. </p> <p align="center"><u><strong>Auto Finance Credit Tier Descriptions:</strong></u><br> <a href="#link1">Excellent Credit</a><br> <a href="#link2">Good Credit</a><br> <a href="#link3">Fair Credit</a><br> <a href="#link4">Poor - Bad Credit</a><br> <a href="#link5">No Credit/First Time Buyer</a> </p> <p> <a name=link1></a><hr color="#E68609" width="80%" align="center" size="2"></p> <p align="left"><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>EXCELLENT CREDIT</strong><br> An excellent, substantial credit record is needed to qualify for our lowest auto finance rates. </p> <ul><img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Estimated guideline 680 + credit bureau score.<br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Minimum five years of credit history* with at least 5 tradelines**, each having a minimum of 36 month payment history. One of the 5 trades must be prior auto paid satisfactory. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history reflects various credit card and installment loan tradelines. Low usage of credit card lines is evident. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Homeowner for 24 months.<br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;No Past due payment history is evident. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Current Employment and Residence history minimum 12 months at same, with complete 36 month history. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Minimal credit inquiries.</ul></p> <p><a href="#page_top">(Back to top)</a></p> <strong><a name=link2></a></strong> <hr color="#E68609" width="80%" align="center" size="2"> <p align="left"><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>GOOD CREDIT</strong> <ul> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Estimated guideline 620  679 credit bureau score to obtain good credit auto finance.<br> <br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history is between three and five years, with at least 3 tradelines, each having a minimum of 12 month payment history. One trade must be $7,500 installment high paid satisfactory. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history reflects various credit card and installment loan tradelines. Low usage of credit card lines is evident. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Homeowner for 12 months is helpful.<br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Past history must reflect payments received in a timely fashion with no current delinquent accounts. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Current Employment and Residence history minimum 6 months at same with complete 24 month history. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;No repossessions. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Bankruptcy acceptable if discharged 24 months with positive re-established credit <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Minimal credit inquiries.</ul></p> <p align="left"><a href="#page_top">(Back to top)</a></p> <strong><a name=link3></a></strong> <hr color="#E68609" width="80%" align="center" size="2"> <p align="left"><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>FAIR CREDIT</strong> <ul> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Estimated guideline 560 - 619 credit bureau score to obtain fair credit auto finance.<br> <br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history of less than three years is acceptable, with at least 3 tradelines, each having a minimum of 12 month payment history. One trade must be $2,500 installment high paid satisfactory. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Moderate usage of credit card lines is evident. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Homeowner is helpful. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;General credit history reflects some accounts have been past due in the last 24 months, but current history shows accounts paid as agreed. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Auto history current for last 9 months. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;6 months current employment, max 2 jobs in last 12 months, with complete 36 month history. Max 2 addresses in last 12 months. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Bankruptcy acceptable if discharged 12 months with positive re-established credit.<br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit inquiries above minimal. </ul> </p> <p align="left"><a href="#page_top">(Back to top)</a></p> <strong><a name=link4></a></strong> <hr color="#E68609" width="80%" align="center" size="2"> <p align="left"><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>POOR CREDIT</strong> <ul> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Estimated guideline 520  559 credit bureau score to obtain fair - bad credit auto finance. <br> <br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history of less than three years may be reflected. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Heavy usage of credit card lines may be evident. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;General credit history may reflect delinquency over extended period of time on more than one account. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit history may show several collection accounts. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Recent Bankruptcy discharge OK based on overall credit and application profile. No re-establish credit necessary. <br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Numerous credit inquiries within last 12 months. </ul> </p> <p align="left"><a href="#page_top">(Back to top)</a></p> <a name=link5></a><hr color="#E68609" width="80%" align="center" size="2"> <p><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>FIRST TIME BUYER </strong> <ul> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Credit score could range from 550 to 700 with no real reporting value to obtain first time buyer auto finance.<br> <br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;No previous car credit history.<br><br> <img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;Minimum credit profile. </ul> <p><img src="images/arrow_b.gif" align="absbottom" border="0" alt="auto loan finance">&nbsp;&nbsp;<strong>NO CREDIT </strong> <ul><img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;No numerical credit score available from the reporting agencies.</ul> <p>Building a good credit history and maintaining it through the years is important. If you have no credit history, it takes time to establish your first credit account. People affected most are:<br> 1) young people just beginning careers <br> 2) elderly people that have not used credit in past 10 years <br> 3)divorced or widowed people who shared credit with their spouse that were reported only in spouse's name. </p> <p><strong><img src="images/arrow_r.gif" border="0" align="absmiddle">&nbsp;&nbsp;To build credit history </strong><br> 1)you must have steady income and have lived in the same area for at least a year. <br>2)apply with a local business or borrow a small amount from your credit union or the bank you have checking and saving accounts. <br> Before you apply for credit, make sure the creditor reports credit history information to credit bureaus. </p> <p>When obtaining a credit report, if you share or shared accounts with a spouse, had credit under a different name or in a different location that is not reported in your file, ask the credit bureau to include it. The creditor is required under the Equal Credit Opportunity Act to report the information under both names, so be sure that is being done. </p> <p>If you apply and are rejected for credit, find out why. Reasons could be more than lack of credit history. A few common reasons are: <br> 1)income may not meet the creditor's minimum requirement <br> 2)employment time may not meet minimum requirement <br> 3)excessive inquiries on your credit report </p> <p>If you have been rejected for credit, it is best to wait for 6 months prior to reapplying to obtain auto finance. </p> <p>An alternative to credit rejection is to ask a person with an established credit history to act as your cosigner. A cosigner promises to pay if you don't and can thus substantially improve your chances of getting credit. Once the debt has been repaid, try again to get credit on your own. </p> <p><a href="#page_top">(Back to top)</a><br> </p> </td> </tr> </table> <p>&nbsp;</p> <p><a href="index.htm">HOME</a> | <a href="auto_loan_options.htm">Loan Options</a> | <a href="auto_loan_financing.htm">Financing Information</a> | <a href="auto_credit.htm">Credit Guidelines</a> | <a href="http://autoloanlocator.com/auto-loan-payment-calculator.aspx" target="_blank">Payment Calculator</a> | <a href="affiliates.htm">Auto Resources</a> | <a href="auto_loan_articles.htm">Auto Related Articles</a> | <a href="mailto:customerservice@autoloanproviders.com?subject=A%20AutoLoanProviders%20User%20Has%20A%20Question%20or%20Concern">Contact ALP</a> | <strong><a href="http://autoloanlocator.com/Loan_Application/Application_StartPage.aspx?loan_type=PUR">APPLY NOW</a></strong> | <a href="auto_loan_partners.htm">Link Partners</a> | <a href="submit_your_link.htm">Submit Your Link</a> | <a href="privacy.htm">Privacy Statement</a> | <a href="site_map.htm">Site Map </a></p> <p></p> <br> </div> </td> </tr> </table> </td> </tr> </table> </td> </tr> <tr height="26"> <td width="701" background="images/bottom_bg.gif" height="26"> <div align="right"> <a href="privacy.htm"><img src="images/privacy.gif" width="92" height="26" border="0"></a></div> </td> </tr> <tr height="1"> <td width="701" height="1" bgcolor="black"></td> </tr> </table> <p></p> </div> <div align="center"> <map name="button5Map2"> <area shape="rect" coords="3,4,181,23" href="#" onClick="window.open('http://autoloanlocator.com/auto-loan-payment-calculator.aspx','popWin','scrollbars=yes,menubar=no,toolbar=no,status=no,width=500,height=500,top=40,left=40,resizable=yes');"> </map> <a href="http://www.domainsnationwide.com" target="_blank"><img src="images/domains_nationwide.gif" border="0" alt="register and host your website at www.domainsnationwide.com"></a> </div> </body> </html>