My parents have immaculate credit.  They have always taken their financial obligations seriously and it shows.  They never have trouble getting any type of loan.  They can go anywhere and they will be offered Auto Loans based on their excellent credit.  It really does make a huge difference in the interest rate amount that you will be paying.  They are very lucky.  Some people have had circumstances beyond their control negatively affect their credit.  These people have a much harder time getting a loan.  I fear that it will only get worse due to the recession.  It will ruin a lot of folks credit.