FICO Auto-Enhanced Scores???

[jmontes77029]

If you have never had an auto loan do you still have a Fico Auto-Enhanced Score?

[sobreezy]

Nope

[Anonymous]

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@sobreezy wrote:

Nope

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Incorrect.

The Fico Autoenhanced Score is a different scoring formula then the traditional FICO scores. It skews its weight/scores in regards to past auto loan/term loan history and generates a number based on that.

if you do not have an auto loan history in your bereau, a score will still be generated, it just may be lower then your FICO score.

[jmontes77029]

Thanks for clarifying that for me usmc58555!

[BN3]

I have a question.  If a person has a high regular FICO, which includes an aged (3 years into loan) Auto Loan that is in good standing (i.e.. No late/missed payments), does that imply their Auto-Enhanced FICO will also be high?  Or is it a matter of having multiple Auto Loans over an even longer period of time to achieve a high Auto-Enhanced FICO?

[Anonymous]

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@BN3 wrote:

I have a question.  If a person has a high regular FICO, which includes an aged (3 years into loan) Auto Loan that is in good standing (i.e.. No late/missed payments), does that imply their Auto-Enhanced FICO will also be high?  Or is it a matter of having multiple Auto Loans over an even longer period of time to achieve a high Auto-Enhanced FICO?

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FICO does not release their scoring formula so any statements we make are simply best guesses.

Informatuin must be present on the Bureau to be included, and in general more auto loan history, especially diverse does score you better, but how much better it will take an already high score?  No idea. [ie- a 6XX score may be more positively impacted then a 720+]