ilsstp wrote:
The problem I have with this is that dealers are making credit based decision based on a score or formulation of some sort that the average person doesn't know about or have access to. It's fine in my opinion if each lender or business wants to have their own credit/tier criteria but basing credit lending decisions on a formula that the average person doesn't have access to or awareness of is shady business. I think if they are going to deny (or approve) you credit at a dealer that the lender should be able to provide you with the facts that it was based on auto-enhanced measurements or straight up credit score. If they are not pulling your credit score but pulling/formulating an auto-enhanced credit score they should tell you.
To me, just seems like another way lenders try to confuse the average consumer.
Just my 2-cents.
yeah, we recently bought another car and they told us it was experian 2 score. I asked what that was and they finance guy didn't know....lol BTW did anyone see 60 mins. tonight? They had a thing about CRA's and their "tricks"
FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012
May your limits be high and your balances low!
