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Sales/Parts/Service: 304-244-3519
Toll Free  Sales/Parts/Service : 866-313-4771
Internet Sales: 304-216-1805
60 Don Knotts Blvd.
Morgantown, WV 26508

How Credit Affects the Car Financing Process

When you have made the decision to buy a car and need to secure financing, the financing process can take different turns depending on where your credit score stands.

University Toyota recommends knowing what your credit score is before shopping for an auto loan. The numbers on the credit score scale indicate the whether your credit score falls within the excellent, good, fair, poor, or bad range.

Credit Range

Depending on your income, work history, credit card history, car loans, or other circumstances, credit scores can either be high, low, or average. While those are important, car dealerships are concerned if you’ll make your car payments on time. Late car payments in the past may or may not give you a slightly higher interest rate.

What Your Score Means

Credit scores affect interest rates, which affects which vehicles are affordable for each person.

The breakdown is simple. If your credit score is in the excellent, good range, you will most likely benefit from a lower interest rate.

  • Low numbers in the poor or bad range will indicate a higher rate.
  • Fair numbers can go both ways depending on the lender. If this is the case for you, we will go out of our way to find your best options.

You can now get pre-qualified with our online form and start a credit application before visiting us in Morgantown, West Virginia.

Three Tips to Improve Your Credit Score



Always pay your car payment on time!



Have unused credit cards opened to show a strong reputation, but not too many.



Pay at least the minimum on all bills to ensure they’re paid on time.

Our finance specialists are here to help you learn more about your options. Stop by our dealership or call to make an appointment today at 304-244-3519.