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Tiers are a standard "term", which defines ranges of FICO scores. The higher your score, the more credit "worthy" or "less risky" you are.. tier 1 being the "best" or highest scores. In programs, these tiers dictate the APR. For the SC program, the top 3 higher score tiers are eligible for 1.9%. Starting bottom up, tiers 3, 2 and 1 start @ 700 and go higher... hense 700+ FICO scores are eligible for the 1.9%.
You may have a great FICO score and qualify for the lowest available interest rate, but the F&I guy at the dealership might try to tell you that his lowest available rate is 1-2 points higher, because they make more money on the loan. ALWAYS ask to see what rate you qualified for on the printout from the lender. Don't let the finance person make easy money on you.
 
Discussion starter · #26 ·
Nice! What's the best way to keep the dealer honest about my rate?
...tell them you want to finance through Hyundai at 1.9% with 20% down, or 2.5% with 0 down. They can't lie about it or they get into trouble
I don't recommend disclosing at the beginning because Hyundai financing leaves very little back end profit for the dealership, only tell them when you finalized the price first and then tell the finance manager that.
 
NO changes that I can see... rates and terms appear to be the same. HMA press release did report their July sales today. 81 SC sold in July: https://www.hyundainews.com/en-us/releases/3372

@Chuck might be a better source.
I haven't seen any changes. Also, as for the 81 sold I have a feeling that more than half of them were the demo units for HMA national & regional offices. Spot checking a couple of them from the list, they were reported sold.
 
Discussion starter · #30 ·
...tell them you want to finance through Hyundai at 1.9% with 20% down, or 2.5% with 0 down. They can't lie about it or they get into trouble
I don't recommend disclosing at the beginning because Hyundai financing leaves very little back end profit for the dealership, only tell them when you finalized the price first and then tell the finance manager that.
With pricing at or near MSRP, don't worry about their profit. They also get incentives to finance with HMF.
 
I think HMF is going to be my best rate. I'd like to find out a day or so before I go pick up the SC, that way if I need to go with lightstream, they have time to direct deposit. Can I call HMF since the online tool isnt displaying Santa Cruz yet?
 
Discussion starter · #35 ·
I think HMF is going to be my best rate. I'd like to find out a day or so before I go pick up the SC, that way if I need to go with lightstream, they have time to direct deposit. Can I call HMF since the online tool isnt displaying Santa Cruz yet?
FICO 8 Auto score above 700 is pretty much guaranteed approval unless some really strange circumstances such as extreme debt to income ratio. I don't think there's a need to call in advance
 
Discussion starter · #37 ·
Is there a way to check FICO 8 Auto?
you can pay FICO for a one time report or monthly for above $30 something, that is the exact score
if not, use credit karma to guess it.
My FICO 8 auto score is above 800, and credit karma score is 760
My guess is that if credit karma above 680 should translate to FICO auto 8 700+
 
you can pay FICO for a one time report or monthly for above $30 something, that is the exact score
if not, use credit karma to guess it.
My FICO 8 auto score is above 800, and credit karma score is 760
My guess is that if credit karma above 680 should translate to FICO auto 8 700+
No need to pay for your FICO, many credit cards will give it at no charge.
 
Discussion starter · #39 ·
No need to pay for your FICO, many credit cards will give it at no charge.
I think those are generic FICO score though, FICO 8 auto score is more fine tuned for auto lenders, but the difference is pretty minor. My generic FICO is at 790 while FICO 8 auto is 800
 
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