There is a small difference in interest rates that you get based on your credit score.
When I bought a car from the dealer I told the loan guy that I had a 0.9% rate at my Credit Union so I didn't need financing. He was able to match the rate based on my credit score and take 300.00 off the car. I doubt he would have believed that I qualified for %0.9 if I had bad credit. So for me we are talking about a difference of at least $300 a year for having a good Rating.
When I bought a car from the dealer I told the loan guy that I had a 0.9% rate at my Credit Union so I didn't need financing. He was able to match the rate based on my credit score and take 300.00 off the car. I doubt he would have believed that I qualified for %0.9 if I had bad credit. So for me we are talking about a difference of at least $300 a year for having a good Rating.