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As the Cut off for Sub-Prime Borrows Grows Higher, DriveHomeToday.co Seeks to Help
Jul 11, 2012 (05:07 PM EDT)
DriveHomeToday.co Helps People with Bad Credit Secure Car Loans in Schaumburg, IL
SCHAUMBURG, Ill., July 11, 2012 /PRNewswire-iReach/ -- With three different credit scores floating around out there, the whole process of tracking scores and applying for loans can quickly become overwhelming for the consumer. The FICO credit score, for example, is based on multiple factors that are unequally weighted. 10% is composed of the types of credit a person has out and another 10% is the new credit they have. Then 15% is based on the length or amount of time that the person has had the credit. A large, 30% is calculated based on the amount owed, and finally, 35% is from the history of making full and timely payments on the outstanding credit. The Zeigler dealership and DriveHomeToday.co want to help car shoppers secure auto financing in Schaumburg, IL even with bad credit, helping them get a car and start rebuilding their credit at the same time.
In the past, a FICO score of 680 or above would have been considered "good" and that person would have been likely to secure a loan. Today's economic times have resulted in a shift in that "good" or "bad" line and now it takes a FICO score of about 720 to secure the same type of loans.
In tough financial times, many turn to credit cards and lenders to stay afloat and in turn, find themselves with lowered credit scores. Banks are turning these people away as they seek new credit which they desperately need to help turn their credit scores around. For those seeking a car loan in Schaumburg, IL there is help. The Zeigler Schaumburg dealership and DriveHomeToday.co are helping Illinois residents every day to secure car loans regardless of credit. Schaumburg bad credit car loans are available.
Media Contact: Kristen Iverson Drive Home Today, (888)821-8148, email@example.com
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SOURCE Drive Home Today