In relation to your Credit Score, is there a standard to the Tier system?

Nissan Motors USA, on their website in the finance section, says the Tier you must be in in order to be accepted at the different APRs, etc. They list Tier 0, Tier 1, Tier 2, and Tier 3. Do they have their own range of scores for each Tier, or is there a standard used by the lending industry. Or does the range of scores fluctuate, depending on the economic climate, and current nation wide credit score averages?

Public Comments

1. There is no "Standard". But this site will help you understand whats really good, whats good, whats average, and whats bad: http://www.creditscoring.com/pages/bar.htm
2. That is probably Nissan's own credit guidelines. There is no standard in the lending industry.
3. Auto finance is what I do for a living and auto loans are based on the following factors; 1. LTV (loan to value). 2. Term requested. 3. Age of vehicle. 4. Miles on vehicle. 5. Down payment. 6. Time on job. 7. Time at residence. 8. Monthly income before taxes. 9. Credit score/profile. 10. Total debt to income ratio. Chrysler uses a system that runs from A+ to D. I have seen people with 540 scores get approved at A- tier and people with 680 scores get approved at C- tier based on how the above numbers were submitted to them. There really is no set standard. It's up to each lender to decide where the applicant falls based on the above factors.