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Valued Member
Posts: 36
Registered: ‎09-03-2010
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Just got scores, looking into getting new car

Hello.  I've been signing up for various trials this week to get my latest credit scores (and not pay for them) and could use some clarification.  My TU score was 673, my EQ score via the myfico score watch, is 731.  I also went to the EX site and there my "Plus" score is 703.  First of all, is it typical for all three scores to range so much?  Second, as I understand it, EX ONLY uses Plus scores, not FICO, correct?  Can the Plus score and the FICO scores really be compared then?  The reason I'm even looking into this is because I'm considering buying a car.  I realize the auto scores differ as well but would typically be higher than my standard FICO scores, right?  I'm just curious because one of the incentives I received from my dealer (who's been trying desparately to get me to trade in my vehicle) is $0 down, 0% interest for 7 years based on approved credit.  So, I was wondering how I would fare with these scores and if a car dealer's version of approved credit was an 850 FICO score to get that particular deal :smileyhappy:  Thanks in advance for your input.
 

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Posts: 13,316
Registered: ‎04-15-2011
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Re: Just got scores, looking into getting new car

First off I'm sure the dealer's score to get that isn't 850.  Lol.  Second off the score might be different again, with auto loans there's sometimes an auto enhanced FICO score.  Now I believe you should be fine with your scores.  As long as you keep the baddies off I don't see a problem. Good Luck



Starting Score: 504




July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 760
Registered: ‎02-11-2012
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Re: Just got scores, looking into getting new car

With your scores, you will be alright. Just do your auto shopping/buying in 14 days and all of the credit inquiries will be counted as one. Sometimes, Car dealers will send your application to several lenders to get you the best deal and them the widest spread so they can make more on pushing the paper.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Member
Posts: 36
Registered: ‎09-03-2010
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Re: Just got scores, looking into getting new car

Well, I went to the dealer last night.  As much as I was joking about the perfect credit score, it was basically true.  They said, (after I was denied the deal based on my credit) that they usually only start considering people for that deal with a 780 CS.  Now, what really threw me was that I pulled all three credit scores yesterday afternoon.  The scores they pulled were all 50 points LOWER than what I had!  So, when I asked them what my scores were, I said that I actually had a print out with my scores from the same day showing very different numbers!  The salesman's jaw dropped and he went to get the finance guy.  Neither men could explain why there was this discrepancy but they clearly were not interested in honoring the scores I gave them.  How can that happen though?  How can they pull different numbers than me, 5 hours later??   

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
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Re: Just got scores, looking into getting new car


superjeep wrote:

Well, I went to the dealer last night.  As much as I was joking about the perfect credit score, it was basically true.  They said, (after I was denied the deal based on my credit) that they usually only start considering people for that deal with a 780 CS.  Now, what really threw me was that I pulled all three credit scores yesterday afternoon.  The scores they pulled were all 50 points LOWER than what I had!  So, when I asked them what my scores were, I said that I actually had a print out with my scores from the same day showing very different numbers!  The salesman's jaw dropped and he went to get the finance guy.  Neither men could explain why there was this discrepancy but they clearly were not interested in honoring the scores I gave them.  How can that happen though?  How can they pull different numbers than me, 5 hours later??    


They can but remember it's a Auto enhanced score, but having your actual FICO score can build some negociation leverage cause it shows your an educated consumer. Before any games I explain before they pull that know what my credit score is, and that if they can not honor me the rates I'm walking. If they really want your business and you have a flawless credit report then getting prime rates shouldn't be out of your reach.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Just got scores, looking into getting new car

, as I understand it, EX ONLY uses Plus scores, not FICO, correct?

 

Wrong EX Fico's do exist, they're just not for sale to the public. Experian found it more lucrative to create FAKO (fake score) websites to confuse the masses into thinking they know their real score.

 

 Amex will still give you a Fico score if you apply and get declined or approved.

 

 

 Can the Plus score and the FICO scores really be compared then?  The reason I'm even looking into this is because I'm considering buying a car.  I realize the auto scores differ as well but would typically be higher than my standard FICO scores, right?  

 

Higher or lower depending on your AUTO history. Lower if you have none.

 

I'm just curious because one of the incentives I received from my dealer (who's been trying desparately to get me to trade in my vehicle) is $0 down, 0% interest for 7 years based on approved credit.  So, I was wondering how I would fare with these scores and if a car dealer's version of approved credit was an 850 FICO score to get that particular deal :smileyhappy:  Thanks in advance for your input.

 

0% offers usually require a 760 or better, with other stipulations. so don't get over joyed just yet , but definately require a 720+ at the bare minimum.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
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