UNDERSTANDING WHAT A CREDIT SCORE MEANS
In Canada, credit scores are rated on a scale of 300-900. The 650-750 range is considered good, 751-799 is very good, 800 to 900 is considered excellent credit.
To have the best chances of being approved and to qualify for lower (prime) rates, a score of 700 or higher is ideal.
On the other side of the scale, 600-649 is fair and 300-599 is poor. Although it’s better to have a fair credit score than a poor one, both of these ranges are considered bad credit.
When your score is lower than 650, you may run into trouble getting approved for a loan.
*There are many other factors that come into play but this will give you a general idea of where you're at.
The average credit score in Canada is about 660 although the numbers vary a bit from province to province.
If your score is on the lower end, it can be comforting to know you’re not alone.
However, just because you’re not alone doesn’t mean you’ll have an easy time securing a new loan for that new ATV/RV/Boat/Car you want.
The good news though is CG Open Road Outlet has a team of Finance Managers with decades of experience working with every credit range/circumstance.
With almost 20 lenders at our disposal you can rest easy knowing that CG Open Road Outlet gives you the best chance in securing that loan for your next Powersports product/RV/Boat/Car and everything in between. We can/will secure you the best rates and terms available no matter your credit score !!!
To have the best chances of being approved and to qualify for lower (prime) rates, a score of 700 or higher is ideal.
On the other side of the scale, 600-649 is fair and 300-599 is poor. Although it’s better to have a fair credit score than a poor one, both of these ranges are considered bad credit.
When your score is lower than 650, you may run into trouble getting approved for a loan.
*There are many other factors that come into play but this will give you a general idea of where you're at.
The average credit score in Canada is about 660 although the numbers vary a bit from province to province.
If your score is on the lower end, it can be comforting to know you’re not alone.
However, just because you’re not alone doesn’t mean you’ll have an easy time securing a new loan for that new ATV/RV/Boat/Car you want.
The good news though is CG Open Road Outlet has a team of Finance Managers with decades of experience working with every credit range/circumstance.
With almost 20 lenders at our disposal you can rest easy knowing that CG Open Road Outlet gives you the best chance in securing that loan for your next Powersports product/RV/Boat/Car and everything in between. We can/will secure you the best rates and terms available no matter your credit score !!!