What you probably already know is that your credit score is the critical factor in determining how much your loan rate will be and what the loan terms will be, both of which can mean a difference in thousands of dollars you pay for the car.

Let's consider someone with a good score and a bad credit rating as an example. They are both shopping for a caA buyer with good credit might be able to get a loan for a brand new car that is fully loaded with features, leather seats, satellite radio and a sun roof with a monthly payment of $295.A buyer with bad credit who desires the same exact car may be able to get a loan with monthly payments of over $600.What you probably already know is that your credit score is the critical factor in determining how much your loan rate will be and what the loan terms will be, both of which can mean a difference in thousands of dollars you pay for the car. Perhaps if they gave up the leather seats and radio, they may be able to get the payments down to $545 a month.