Posts tagged "Standard"

Q&A: What is the standard credit score to purchase a used car?

Question by BrownSugar 2 Da Maxx: What is the standard credit score to purchase a used car?
I could not get a car since my credit is not good enough. Does anyone know what is the actual credit score to obtain in order to purchase a used car? Specific answers would help. Please no “IDK” answers.

Best answer:

Answer by MKE Bike Beginner

As I understand it, the car loan market is typically lumped into 3 categories:

– The sub-prime market. These are individuals who have credit scores less than 620. Bank financing is usually difficult (or impossible) – When it is provided, it’s usually contingent on substantial money down.

– The mid-prime market. These are individuals between 620 and 680 who can probably obtain financing (potentially without money down), but most likely will have to accept an interest rate well above 10%.

– The prime market. These are individuals with credit scores above 680 and will command a respectable rate between 5% and 9%, depending on the term of their loan and other factors. Loans with no money down are usually not a problem, given the fact that risk of defaulting is percieved to be low.

If you want easily get financing from a bank with little money down, you’ll probably have to bring your credit rating at least up to 650 or more.

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Posted by Trevor - October 31, 2012 at 1:57 pm

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Standard & Poor’s Fundamentals of Corporate Credit Analysis

Standard & Poor’s Fundamentals of Corporate Credit Analysis

An authoritative, in-depth guide to all aspects of credit analysis from the experts at Standard & Poor’s

Credit analysis–gauging an issuer’s ability to repay interest and principal on a bond issue–plays an essential role in determining how bond issues are rated and priced. Fundamentals of Corporate Credit Analysis provides both analysts and investors with the practical, up-to-date information they need, backed by Standard & Poor’s research, data, and experience, to properly assess the credit risk of virtually any entity.

Whether used as a handy all-in-one guide or as a comprehensive training tool, it will give anyone the knowledge and tools needed to dig beneath standard ratings and determine an organization’s true creditworthiness.

List Price: $ 75.00

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Posted by Trevor - December 12, 2011 at 2:23 pm

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