Edmunds Answers



  • MrShift@Edmunds 05/07/09 6:45 pm PST

    It varies but the general consensus is-- for most cars, most banks, most situations, 700+ is good to go.

  • autobroker2 05/09/09 2:49 pm PST

    First of all, is your score an "auto-enhanced" score? In other words, was it pulled by someone who does auto financing, whether it is a dealer or a bank, or was it the standard report you can get from your credit company? The "auto-enhanced" score is designed to give banks a better idea of how likely you are to pay back a car loan as opposed to, say, a mortgage. It is possible that your auto score may be lower.

    If you are hoping to use Mercedes to buy or lease a car, Mercedes finance is looking at more than just score. They also consider your overall credit picture, including debt-to-income and percentage of credit used. Those factors do affect score, but Mercedes is not necessarily going to use just your score.

    If you are looking at outside sources, even credit unions have set new tiers for scores. Around here, you have to have a 740 auto-enhanced score to make top tier. A 720 would be second tier.

    Having said all that, why do you ask the question? If you are hoping to buy or lease a Mercedes using Mercedes finance, the best way to get the real answer is to go to a dealership and ask them to pull your credit and rate it for you. You are going to have to do it sooner or later.

    Good luck!


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