Credit rating, your financial portrait
The credit score is an instant snapshot of your borrower profile. Two companies, Equifax and TransUnion, develop and provide your credit score and report to Financial Institutions and other applicants (e.g. insurance). Note that you can view your credit score and report for free with these two companies. However, consulting your credit score by a third party, a supplier for example, requires your approval.
The degrees of a credit score
Credit score is a number between 300 and 900. Although each lender has their own criteria, in general, credit scores between 660 and 724 are considered good, 725 to 759 as very good, 760 and above as excellent. Below 660, a rating is considered low. Below 500, it can be very difficult to get a loan (but not impossible).
The importance of a good credit score
Credit score represents your risk level to a lender. The higher the risk, the more severe the loan conditions and the higher the rates. It is therefore very advantageous to try to improve your rating score. Conversely, a high credit score makes you an exceptional client and highly sought after by Financial Institutions. Automobile manufacturers even offer, for this category of borrower, subsidized rates as low as 1% to encourage the sale of certain models. Your credit score also affects your insurance premiums downward or upward, and even access to housing.
We utilize state-of-the-art measures, including 128-bit encryption, to ensure the protection of your personal information during both transmission and storage.
We place great importance on your privacy and therefore assure you that we do not share your personal information with unaffiliated third parties without your explicit consent.
Select your vehicle, fill out the auto loan application, and instantly get your prequalification status upon completing the form.
DDC Crédit has developed a hi-tech application powered by artificial intelligence. It allows us to analyze a request and provide a response in just a few seconds. This application is directly connected with more than 20 financial institutions.