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Frequently Asked Questions In Lubbock, TX

Finance FAQ

Keeping up with vehicular financing isn’t a hobby of many, but it is crucial for those in the market for their next vehicle. Here are some answers to common financing questions.

Q: What is APR?

A: APR, or annual percentage rate, is the rate of interest you’ll pay on a loan. Generally speaking, most financial institutions offer a fixed interest rate. That means the annual percentage rate will remain the same through the end of the loan.

Q: What determines my credit score?

A: Your credit score is determined by five factors.

Payment history, the largest factor, accounts for 35 percent of your credit score. It includes all of your payment information, including bankruptcy and missed payments.

Amounts owed makes up 30 percent of your credit score. The total amount owed, number of accounts with debt, and loan
amounts owed make up this portion of your score.

Length of credit history comes up to around 15 percent of your score. The only thing it takes into account is how long your accounts have been open and the amount of time since they’ve been active.

New credit is the fourth factor and makes up 10 percent of your credit score. It primarily accounts for recently opened accounts and the number of total credit accounts you have.

The fifth and final factor is the types of credit used. This part of your credit score accounts for 10 percent and includes the various types of accounts in your name. These can include loans, credit cards, mortgages, and so on.

Q: How do I apply for vehicle financing?

A: To apply for vehicle financing, all you have to do is head down to the dealership. There’s no need to fill out dozens of applications to get a loan. Most dealerships have finance departments that can send all your information to lenders in one fell swoop.

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4101 Avenue Q


  • Monday
    9:00am - 8:00pm
  • Tuesday
    9:00am - 8:00pm
  • Wednesday
    9:00am - 8:00pm
  • Thursday
    9:00am - 8:00pm
  • Friday
    9:00am - 8:00pm
  • Saturday
    9:00am - 8:00pm
  • Sunday

Contact Information

4101 Avenue Q
Lubbock, TX 79412
Phone: (866) 239-3735
Call the finance department at Pollard Used Cars of Lubbock to learn more about financing your next vehicle.
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