Question about Auto Loan...

[Anonymous]

I've had 5 auto loans in my life (in the last 17 years, 1 used, 4 new) all has been paid on time, never late, never repo. I filed for BK7 in April and discharged last month including my auto loan which I still pay for (It's almost paid off).

I wonder if Bank use credit score and/or auto score? I mean I never heard of Auto score before someone brought that up which is different. How does that work exactly?

Thanks y'all

[Anonymous]

From what I understand the auto versions of FICO weighs past auto loans more than say your FICO 8 score.  So the better your auto loans are on your reports, paid, no lates, no repos, then your auto score should be ok.  If you're shopping for a new auto loan, some banks may use the auto version and some may not.  Also there are different versions of the auto score.

[Anonymous]

Hmm interesting. Thank you, Christoph8

[TRC_WA]

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@Anonymous wrote:

From what I understand the auto versions of FICO weighs past auto loans more than say your FICO 8 score.  So the better your auto loans are on your reports, paid, no lates, no repos, then your auto score should be ok.  If you're shopping for a new auto loan, some banks may use the auto version and some may not.  Also there are different versions of the auto score.

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That's correct.

I had 2 previous auto loans (used) with no issues always PAA prior to buying my new Challenger in January.

EQ FICO 8 was 691.

EQ auto FICO was 709.

Ch 13 from 2009 is still on the reports for a few more months.

[Anonymous]

Thanks too, TRC_WA :-)