September 30, 2024
According to a 2024 survey, almost one-third of Americans don't believe they would get approved for car loans if they applied for them today. Many suspect their credit scores are too low to seek loans through lenders that specialize in providing financial services for car dealers . Having a good credit score is, of course, a key factor in getting approved for a car loan. However, it's just as important to maintain a good debt-to-income (DTI) ratio when applying for car loans. At Edge Financial Services , we understand that even if your credit score is on the lower end, a strong DTI ratio can still improve your chances of securing the financing you need.