Auto FICO Score

[CostantinoA]

I know this is a far shot, but does someone know exactly what goes into a Auto FICO score?  As you can see in my signiture that I have had credit problems but never with atuto loans.  I have paid off 5 auto loans and have 2 current right now. I have never been late.  I am looking to lease two new cars Jan 2017 and what to make sure I am approved.  thank you.

[Anonymous]

Hey Costantino, you say that you have 2 current auto loans and i am curious how those were achieved. IMO with your current credit file as shown in your signature, you would be likely to receive sub prime rates for auto loans if they even approved you at all. I am not trying to be harsh but the stats do not look great. Also your income is going to be a huge factor here but you have not mentioned it. If your debt to income ratio is too high then you will be declined no matter what, and with 2 current auto loans i am not sure how over extended you are. ALSO a BIG NOTE to consider is that many lenders do NOT use auto fico scores for auto loans. The score that each lendor uses may be different, for example credit unions are most likely to use your fico mortgage score, which is an older fico score and usually lower than all your other fico scores (and yes they use it for auto loans). You can inquire directly with the lender on the phone to find out which score they use or by looking through the forums here you may find the answer. IMO if you do not need the vehicle you are hurting yourself if you take a sub prime auto loan, please do yourself a favor and dont just jump into a contract. Hope this helped.

[CostantinoA]

That is the thing.  I have always paid my auto loans.  It is a medical bills tht is hurting my credit.  I have always paid my credit cards as well.  I make $112,000.00 a year.  That is my weakness.  Auto loans.  Now I decided I want to settle down and focus on saving more.  I need a bigger car.  I am 6'5", 260lbs.  I do not fit too well in my Chevy Malibu.  Out of the 2 cars I have, one is for my wife and one for me, only in my name.  My auto loans are both under 10%.  I talked to the deal recently and he said with all my paid off auto loans and my current ones being 14 months old each, I would get prime rates.  I could get a nicer vehicle for about what I am paying now.

---

@Anonymous wrote:

Hey Costantino, you say that you have 2 current auto loans and i am curious how those were achieved. IMO with your current credit file as shown in your signature, you would be likely to receive sub prime rates for auto loans if they even approved you at all. I am not trying to be harsh but the stats do not look great. Also your income is going to be a huge factor here but you have not mentioned it. If your debt to income ratio is too high then you will be declined no matter what, and with 2 current auto loans i am not sure how over extended you are. ALSO a BIG NOTE to consider is that many lenders do NOT use auto fico scores for auto loans. The score that each lendor uses may be different, for example credit unions are most likely to use your fico mortgage score, which is an older fico score and usually lower than all your other fico scores (and yes they use it for auto loans). You can inquire directly with the lender on the phone to find out which score they use or by looking through the forums here you may find the answer. IMO if you do not need the vehicle you are hurting yourself if you take a sub prime auto loan, please do yourself a favor and dont just jump into a contract. Hope this helped.

---