• Dodge
  • Chrysler
  • Jeep
  • Ram

409 Broad St
Directions New London, CT 06320

  • Sales: (888) 457-7920
  • Service: (877) 900-8732
  • Parts: (888) 348-0512

Understanding Your Credit

An Important Number

Your credit score is a three-digit number credit bureaus develop by evaluating the information on your credit file. Along with your credit history, it has an impact on whether or not you are approved for a mortgage, car loan or credit card and what interest rate you'll pay.

The FICO Ranges

How FICO is calculated

Lenders use your credit score as a thermometer to determine if they're going to grant credit or not.

The median FICO score is 720 out of a possible 850. The riskiest customers have scores below 600. Higher scores are better and translate to lower interest rates.








Lending Industry Standard

A borrower's credit score has been proven to be the best predictor of the borrower's repayment performance. The three major credit bureaus generally use a formula developed by the Fair Isaac Corporation (FICO) to analyze the credit information they have on file for you. Your FICO score is what most lenders use to determine the interest rate you'll be offered. Borrowers with high credit scores are usually offered lower interest rates, while those with lower scores may still get credit but will have a higher interest rate. We will work with you and our several lenders to get you the best rate possible. 

Figuring Your Score

The three major credit reporting agencies may each assign you a different credit score, based on the specific information each has on file. But they follow a similar method to come up with that number, which range from 300 to 850. The median credit score in the United States is 723. Knowing your FICO score and understanding how it is calculated can help you improve your credit profile and thus affect what you pay for financing. 

Bankruptcy 

If you have experienced a bankruptcy we want to help. We work with many lenders and banks. We will work hard to help you find the best interest rate and help you start to rebuilt your credit. Because of our low prices many times we are able to get your loan approved even if others have failed in the past. Getting a car loan after Bankruptcy is possible, our team will work hard to find the best options for you.



Have Questions?  Use the form below to contact one of our helpful staff members! Ready to Buy?

Make an Inquiry

By submitting your contact information, you consent to be contacted by telephone about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature.