Question by baby cakes: What is the minimum credit score needed to obtain auto loan? I plan to purchase a new car however I wanted to be approved for a bank loan before I go to the car dealership. In our area, Chase Bank is offering rates of 4.4% at the most. What is the minimum credit score needed to be approved. I don't want to go around applying for different loans if I will continue to get turned down which will then lower my credit score. Best answer for What is the minimum credit score needed to obtain auto loan?:
Answer by Judy
Go to a credit union or small bank. Don't go to big banks - they are not lending as much unless you have top credit. A credit union will give you the best interest rate. Mine is offering 2.99% Don't worry about inquiries to your credit score. All similar inquiries done withing a 6 week window are lumped as one on your reports (you won't see this - its just what the score system does). This is to allow you to "shop around" for a good loan. Credit cards are different - keep that in mind - not lumped together as one - just installment loans. An inquiriy only dings your credit by 1 or 2 points. 5 points at MOST if you have really bad credit. So don't every worry about inquiries. Plus they only affect your score for one year - even though they show up for 2 years. Do NOT tell a dealership how much you were approved for. You will lose haggling power to negotiate a good selling price. It is none of his business. Choose a car - make a low offer on it and haggle, haggle, haggle. Again - do not tell them how much you can afford !!!! You can lie and choose a $ 15,000 car and say you only want to spend $ 12,000 on this car. You can walk away - they will call you that night or the next day. They always do. Try to buy a car towards the end of the month. This month the new models are coming out - great time to buy last year's model at practically nothing. A credit union will look at your credit reports - not your score. /
Answer by stan c
A good credit score is 660. Even if you wind up @ 4.4%, you can always pay extra each month to cut down on the interest charged.
Answer by Norman Don
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Established in 2004, Chase Bank is one of the largest banking institutions and a subsidiary of J P Morgan of the US. Chase Bank has a long history of mergers and acquisitions. Earlier it was known as Chase Manhattan Bank until it merged with JPMorgan in 2000. It has assets worth $ 2 trillion. It provides a variety of financial services to consumers and organizations. The bank is headquartered in Chicago and its branches are located in almost the entire country.
Every customer of the bank has access to online banking. Through this service anybody can operate accounts from any place and at any time they want. First you have to open online account. Once your account is created, you can login to your account with a unique username and a password provided at the time of account creation One you login to your account, you can now enjoy all types of online services of the bank.
Also you can avail various types of loan products like fixed rate, renovation mortgages, interest-only mortgages, ARM products, conforming mortgage loans and subprime mortgage loans. Chase Mortgage's customer service helps the consumers in deciding which mortgage products to apply for. Chase mortgage loan products are ideal for first timer home buyers and also for refinancing the existing mortgage on their homes. Recently, Chase announced its merger with BuySideReality.com
Chase bank has a swift code which is very useful in doing international transfers of funds electronically. The swift code for Chase Bank is CHASUS33.
One of the saving options offered by the bank is Money Market Account. You can earn a higher interest when you have more balance and motivates you to save more. There is 2$ fee for ATM withdrawal from a non-Chase ATM. Chase money market interest rates are competitive and affordable in nature.
Few of the various types of credit cards offered by the bank are Freedom Visa Card, Slate, Sapphire Visa, INK business card etc. There are various features associated with this cards like cash back offers on purchase, rewards and bonus points. Also you can also invest in Chase CD as the rates are good and it is a good investment option Related Banking With Chase Bank Issues
