It doesn’t work like that. FICO score is only a portion of the scoring inputs, not the defining factor.
Could you share (at least in generalities) what factors come into play?
In general you can probably guess some of the other things that would come into play. Payment-to-income, debt-to-income, deal structure and capacity among dozens of other variables.
There is an article on Bankrate about this.
Thanks
But that’s not necessarily true. There’s no minimum FICO threshold. So if you have <800 FICO you may still qualify. You could even have a <700 FICO and still qualify. FICO is not the only determining factor.
Thanks. I guess I'll see when it's time.
I believe you but in this particular case, speaking from personal experience, you do not need to have that high a score.
People who have FICO score above 800 pay cash. ?
I have a score well above 800 and could pay cash but if I can ge 0% and leave my money working on the market I’ll do that. In fact I did do that when I bought my GT in September.
Not likely. People above 800 would rather take a zero interest loan and use our cash for other things that would grow in value.
Not really true. IMO, persons with high FICO scores are smart enough to use “other people’s money”. You can always payoff a loan later.
