Financing Information

Finance With The Most Trusted Dealer In St. Louis

Commonly Asked Questions About Auto Financing

Here are some commonly asked questions and our answers. We hope that these help you to feel more comfortable with the financing process!

Q: Why do I need to apply for credit?

Weber Chevrolet has access to the best financing available, and we want to ensure our customers can have access to the best rates possible. Because of this, we can get rates lower than most customers can obtain on their own or elsewhere, and we can typically finance more than some banks or other lending institutions. We also perform credit checks for our own security that way we know you can make the payments on time and not fall behind on your loan.

Q: What information is on my credit report? What does the dealership do with this info?

Your credit report shows your credit history. It demonstrates your ability to borrow and repay loans on time. There are around 30 credit factors, like payment history, outstanding debt, and the duration you have held your credit accounts. The credit bureau uses this information to build out a FICO score, or credit score. This number ranges from 350 to 800 and you want as close to 800 as possible. This number will be the biggest factor in determining the amount of money we can loan as well as your interest rate.

Q: Can a dealership run my credit without my knowledge?

The short answer no. We are required to ask for your permission to run your credit. You should feel safe in knowing that we will not run a credit check without your knowledge and permission.

Q: Does a credit check cause my FICO score to drop?

When we first run your credit, it will have a minor impact on your credit score. However, subsequent inquiries do not have any impact on your credit score. Multiple inquiries in a short period of time will be grouped together while you are shopping for your next vehicle.

Q: How can I best prepare for a credit check before I visit Weber Chevrolet?

First of all, you can easily check your credit report online. Sites like CreditKarma are used by people who keep an eye on their credit, or simply used by those in your position checking their FICO scores so they are prepared for their visit to Weber. Pay attention to the accuracy of your report, and make sure to address anything you are unsure about with the proper credit agencies.

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