When searching thru new cars, in regards to financing, what is considered Tier I & Tier II credit?

Question

I'm searching for a new car (Toyota) and the dealer that I have chosen has a 2.9% apr for qualified buyers. My fico score is over 760. I've been reading about Tier I and Tier II credit, what exactly does that mean and would my credit score qualify?

Answer 1

We do not see many > 760. 760 will qualify you for Tier 1 all day long anywhere. My manufacturer (Nissan) has the same offers for tiers 1 & 2.

Good Luck!

Answer 2

You obtain the TIERS by your income, time on the job and credit score. The higher the better. 760 is pretty good should get you a tier 1. (Lower interest, better terms)