About auto enhanced ratings

[Anonymous]

Hello All,

A question about auto-enhanced credit ratings.  I've had two loans for car purchases, both were paid as agreed.  One of them was through Nissan Finance and the other through a local bank (for a used car)..  Would both loans affect the auto-enhanced rating that a dealership might pull?  I ask because the listing of the second car, the used car through my local bank, doesn't mention what it was used for in my report..  Here's the listing in my report pulled from here:

Status as of Date opened [?] Date of last activity [?] Account number [?] Largest past balance [?] Account Type [?] Account holder [?] Scheduled Payment Amount [?] Industry

Mar, 2005

Mar, 2001

Mar, 2002

XXXXXXXXXXXX0001

$5,990

Installment

Individual

$271

All Banks

[Anonymous]

New or used has no bearing on the autoenhanced score, nor does it come into play at all.

Its the history that matters,

[Anonymous]

USMC58555 et al,

My question was not whether auto-enhanced only counts for new vs. used purchases.  The question is based on the information I posted above which is what is showing on my CR, there doesn't seem to be any mention of the loan being for an auto purchase.  It looks like a generic installment loan.  So my question is, considering the limited amount of information shown, will it be known that it was for an auto purchase and thus show up as a second car loan paid as agreed (which one could assume would bode well for an auto-enchanced rating). 

I guess the question posed another way is, is there more information that a lender will see that will point to that loan being for a car purchase, because as I've already stated, the loan looks pretty generic from what I've seen on my report.

Thanks,

[ScoreBooster]

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@Anonymous wrote:

USMC58555 et al,

My question was not whether auto-enhanced only counts for new vs. used purchases.  The question is based on the information I posted above which is what is showing on my CR, there doesn't seem to be any mention of the loan being for an auto purchase.  It looks like a generic installment loan.  So my question is, considering the limited amount of information shown, will it be known that it was for an auto purchase and thus show up as a second car loan paid as agreed (which one could assume would bode well for an auto-enchanced rating). 

I guess the question posed another way is, is there more information that a lender will see that will point to that loan being for a car purchase, because as I've already stated, the loan looks pretty generic from what I've seen on my report.

Thanks,

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What symbol appears next to the account overview that shows all your loans?

Every tradeline listed on myfico shows a small, green symbol. If a little car appears, there is no doubt it is recognized as an auto-loan. If not, you might want to contact the creditor and ask them if there is a way for them to report it as a car-loan.

[Anonymous]

Scorebooster,

I checked the listings and both loans in question show a money bag and "Credit Account" is how it is marked in the EQ report.  Transunion shows the Nissan report as an auto loan (little car symbol) and the other loan is listed as "Other Account"... 

Hmm.. at this point its probably not worth the effort to chase down the bank..  Thanks for the help..