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Valued Member
Posts: 30
Registered: ‎06-11-2009

car dealerships pull which credit reports?

Can someone explain to me the process of obtaining a car loan from a car dealership?


Do different dealerships use different CRA?  Do they use your credit score from the CRA or FICO score?  Are the the same or different?


Is it best to let the dealership find your financing or get preapproved somewhere else? 


Dealing with a 650 credit score?


Looking at about a 21K car before taxes with about 2k down payment.


Thank you.



Valued Contributor
Posts: 2,526
Registered: ‎11-11-2010

Re: car dealerships pull which credit reports?

[ Edited ]

Auto loan uses auto-enhanced FICO score most of the time. This FICO score is different than the score you get from myFICO or from credit card application. It weighs more on existing auto loan history and less on everything else. If you don't have auto loan history before and a so-so 650 FICO score you may need a co-signer.


Usually it is better to get an auto loan outside of dealership first. If approved lender will give you a check which you then use it to pay for a car like you would for cash. Amount written on the check is your loan amount.

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