New car buyer question on FICO auto enhanced

MagnumLSU · ‎01-29-2017

Been lurking for years, hardly ever posted before...greatly benefited form the advice I have recieved here. Over the years my scores have gone from low 500s to mid 700!

I have searched these forums and the internet in general and am finding little information as to what to expect on my FICO auto enhanced score. I have absolutely no auto or mortgage history on my report, and am nervous about what to expect. Are FICO auto enhanced generally near the standard FICO score? Lower, higher? With no auto (or mortgage) history, what does FICO use to determine the auto enhanced score?

FYI, I have a 24K Student loan, aged for years and years (like back before 2008 or longer), two CCs with $910 CL at 19% util, no baddies AT ALL, no collections. All positive, just not a lot of content.

Any input would be greatly appreciated.

DeeBee78 · ‎01-30-2017

@MagnumLSU wrote:
Been lurking for years, hardly ever posted before...greatly benefited form the advice I have recieved here. Over the years my scores have gone from low 500s to mid 700!

I have searched these forums and the internet in general and am finding little information as to what to expect on my FICO auto enhanced score. I have absolutely no auto or mortgage history on my report, and am nervous about what to expect. Are FICO auto enhanced generally near the standard FICO score? Lower, higher? With no auto (or mortgage) history, what does FICO use to determine the auto enhanced score?

FYI, I have a 24K Student loan, aged for years and years (like back before 2008 or longer), two CCs with $910 CL at 19% util, no baddies AT ALL, no collections. All positive, just not a lot of content.

Any input would be greatly appreciated.

Your student loan counts as an installment loan, which is the same type of loan as a mortgage or auto loan, from a FICO scoring perspective.

You should also have three revolving lines of credit for scoring purposes. With scores over 700, I would expect you to have much higher credit limits than $910 as well.

MagnumLSU · ‎01-30-2017

HI DeeBee -- thanks.

As you might have suspected, that is a typo. My CL is $9100, not $910. I just have a hard time adding more credit cards , when I don't really need them....

DeeBee78 · ‎01-30-2017

@MagnumLSU wrote:
HI DeeBee -- thanks.

As you might have suspected, that is a typo. My CL is $9100, not $910. I just have a hard time adding more credit cards , when I don't really need them....

Ok, that's better than $910.

I was just mentioning what you can do for maximum scoring, which is three revolving lines - don't open more if you don't want to. My partner only has two credit cards, but they have ridiculously high limits. Last check, his Experian FICO 08 was 838.

If you really want to know what your auto scores are, you can purchase them on here. But I will tell you that there are multiple auto score models, and each lender could use a different one.