The desire to buy a new car comes up against a common dilemma: “Which score is good for financing?”. One of the main points in evaluating a buyer to finance vehicle is the credit score. This value is a result of the payment habits and the citizen’s relationship with the market. If the score is low, hardly any financial institution will authorize any type of business.
You, your neighbor, your mother or your uncle are constantly evaluated from your Kerasa Score. Having good credit in the square means being able to easily apply for credit cards, apply for loans and, of course, make bank financing. If you have tried to create a credit card with no annual fee, for example, and have been declined, it could mean that your score is low.
If you are unsure which score is good for funding and are afraid of having your proposal declined when purchasing a new car, the time has come once and for all to understand how credit score works and how to increase the score.
What is score?
Before understanding which score is good for funding, you need to know exactly what this index means and its functionality. As we mentioned above, in order for companies to authorize or not authorize some kind of business, they need to know how trustworthy this customer is. To measure this confidence, Kerasa takes into account different information to generate an index, which ranges from 0 to 1000 points , presenting the possibility for the client to meet their debt payments.
The closer your score is to 1000, the higher your score is and the most likely you are not to delay your accounts. Already if your score is closer to 0, it is a low score and shows that you probably don’t pay everything on time.
But after all, what is taken into account in this score in the Score?
There are a number of factors that influence score scoring from a combination of information in the Kerasa database and related queries by service customers. They are checked if the person’s name has been filthy, if he / she usually pays the bills on time, companies that the citizen relates to, has bad checks, possible search and seizure actions, participation in bankruptcy or bankruptcy, default annotations, among other aspects related to the financial profile.
In addition to the personal profile, the score on the score also includes the level of default and the volume of economic activity of the city or region in which the person concerned lives.
How to consult the Kerasa score
Did you know that you can consult your CPF score for free? To know which score is good for funding you must first have a real idea of how much your score is currently. Through Kerasa Consumer website you can see this value and compare with the average related to your age and region. Check out a step by step how to register and access:
Visit the Kerasa Consumer website and click on “Consult Now”
If you already have registration, simply enter your data. If not, you can sign up with Facebook, Google account, or an email. To do this just click on the desired option.
Fill in the registration form with CPF, Full Name, Date of Birth, Email and password of at least eight characters, without containing the first or last name present in the registration.
After completing the completion, you will be asked to validate your registration via email or phone.
With validation, you will be redirected to the main page that will already have your Kerasa Score score and an assessment of what your current situation is, ranked low, medium and high.
Finally, which score is good for funding?
The time has come to know which score is good for funding. In fact, we regret to inform you, but there is no practice in specific credit score score to ensure your approval of a vehicle finance. This is because it depends on each financial institution and other aspects that can be analyzed. However, scores above 700 points are considered good grades and may end up having a higher chance of getting the funding approved.
However, if you have had a negative history with a financial institution, such as letting an account be delayed or waiting for the statute of limitations, this could be detrimental to you.
It is therefore very important, rather than having a high credit score, to have a more conscious and balanced consumption behavior , avoiding creating debts that you will not be able to pay or putting yourself at risk by delaying bank payments, such as credit card payments. . . Having good relationships with the bank has the same effect as having good relationships with friends and family.
But of course you should not stop worrying about your score. As much as you have seen the answer to the question, “ Which score is good for funding? ”, Be it“ depends ”, it is always important that you take care of and track your score. If you seek to increase it, the first step is to clear your name . Seek to renegotiate your outstanding debts and get your CPF off the delinquent list. Contacting the outstanding financial institutions that you are interested in renegotiating shows that you are a customer concerned about your debts.
We hope we helped you understand a little more about which score is good for funding and how your score influences at that time. Here at Automotive Shopping we perform the analysis and approve your credit on time. Count on us when it comes to financing your new car !