Good credit to get 0% APR for 36 months + $1500 cash + 120 day deferral? - TerrainForum.net: GMC Terrain Forum
 
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post #1 of 3 (permalink) Old 12-29-2010, 12:36 AM Thread Starter
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Good credit to get 0% APR for 36 months + $1500 cash + 120 day deferral?

I have 650 from Equifax - 680 with Experian and 690 credit rating from Transunion last time I checked. Do I need to be in perfect credit in order to get those promotional offers that end on the 3rd? Anyone know? Looks like in order to get those offers, I would have to finance the Nox through Ally? Is it hard to get a good APR rate from Ally?
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post #2 of 3 (permalink) Old 12-29-2010, 01:19 AM Thread Starter
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Re: Good credit to get 0% APR for 36 months + $1500 cash + 120 day deferral?

Is there any wiggle room that the dealer would actually try to get those incentives or is that like an automatic rejection, not being able to hit the 720 mark?
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post #3 of 3 (permalink) Old 12-29-2010, 10:22 AM
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Re: Good credit to get 0% APR for 36 months + $1500 cash + 120 day deferral?

It's actually in the finance manager's interest to NOT have you be approved for this offer, so he can sell you a loan from a bank where he earns commission and cost you a higher interest rate.

I would ask for them to give you approval for this loan/offer in writing, as a common trick is to tell you that you are approved and then come back a few days later and have a loan that is a higher interest rate.

My dealer used Experian, and at 680 you are a little low to qualify for programs that require a tier one credit score. The only way to find out for sure is fill out a credit app at the dealer, and get approval IN WRITING!

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