Call Now: 1.866.297.2002

Credit Repair Blog RSS

700 Credit Score Needed to Buy a Car With GMAC Financing

The credit crunch of 2008 is affecting all kinds of lenders.  We know it has hit the big banks hard.  We know it has hurt the Wall Street finance guys hard.  (but who cares about them?)

With every passing day, we see more evidence that the credit crunch is hitting us average “Joe Sixpack” Americans hard.

Here’s this week’s proof: GMAC (a big auto finance company) recently issued a press release announcing that they:

implemented a more conservative purchase policy for consumer auto financing in the U.S. as a result of the lack of stability in the global capital and credit markets. The changes include limiting purchases to contracts with a credit score of 700 or above. Additionally, the company will restrict contracts with higher advance rates and longer terms.

If you don’t already have a good credit score, it’s time for you to take action and start improving your credit score.  Otherwise, you will be among the Americans who are hit hardest by the credit crunch. 

You can read the GMAC press release here.

Free Credit Consultation

I request and grant my consent to be contacted by telephone and/or email regarding credit repair. Submitting my personal information above constitutes my electronic signature.

Easy Credit Guide

Easy Credit

Good credit scores save you thousands of dollars. We've made it easy for you to learn about good credit. Download our free Easy Credit Guide and find out how easy it can be to get good credit!

Download

Get Our Credit Tips

Serious about improving your credit and saving money? Make it easy for yourself, and get our weekly Credit Tips newsletter delivered by email.

Free Credit Reports
(Plus Scores!)

To improve your credit score, you need to know your credit score. Get all three credit reports (plus credit scores) in this free offer.

Get it Now

Credit Success Stories

I had credit problems, and wasn't able to qualify for a regular bank loan or a credit card. Then, I ran into a financial emergency. I found out that I could take out a faxless payday loan quickly and get cash to cover my emergency. The good thing is the lender didn't need to pull my credit history, and I was approved easily. Read More