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Tuscani (or anyone else) just read your auto enhanced thread and

Regular Contributor

Tuscani (or anyone else) just read your auto enhanced thread and

have a question. I see that most people have had cars in the past even though some are repo's. I have what I might call decent scores now 693-723 but I've never had a car loan. How is this going to affect me when I go car shopping in the very near future?
Message 1 of 11
10 REPLIES
Moderator Emeritus

Re: Tuscani (or anyone else) just read your auto enhanced thread and

Your auto score will be lower than your classic FICO if you have no auto history.
Message 2 of 11
Regular Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and



Tuscani wrote:
Your auto score will be lower than your classic FICO if you have no auto history.



So, that being said. Should my dh and I not use my credit when car shopping? I wanted both cars to have my name attached so that I can have car paying history
Message 3 of 11
Frequent Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and

Hi Tuscany,

If an auto TL has been removed from one's credit reports. Does this mean it is removed from the FICO Auto Enhanced Score as well?

Cecilia
Message 4 of 11
Regular Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and



cfstr1 wrote:
Hi Tuscany,

If an auto TL has been removed from one's credit reports. Does this mean it is removed from the FICO Auto Enhanced Score as well?

Cecilia


please don't hijack my thread...........thank you :-)

Message 5 of 11
Frequent Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and

Sorry, didn't mean to hijack anything. Just figured since he was answering the question I would check it out. No harm.
Message 6 of 11
Regular Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and



cfstr1 wrote:
Sorry, didn't mean to hijack anything. Just figured since he was answering the question I would check it out. No harm.

I'm kidding. from what I read on a previous thread that if the tl has been removed from your cr it will not be available for the dealers to see/use. I think the same rules apply for an auto cr but it's just a different score modle.
Message 7 of 11
Moderator Emeritus

Re: Tuscani (or anyone else) just read your auto enhanced thread and



ktl55 wrote:


Tuscani wrote:
Your auto score will be lower than your classic FICO if you have no auto history.



So, that being said. Should my dh and I not use my credit when car shopping? I wanted both cars to have my name attached so that I can have car paying history


Depends.. Adding your credit might not yield the best rate; however, both incomes (assuming you work) could help get the app approved.
Message 8 of 11
Moderator Emeritus

Re: Tuscani (or anyone else) just read your auto enhanced thread and



cfstr1 wrote:
Hi Tuscany,

If an auto TL has been removed from one's credit reports. Does this mean it is removed from the FICO Auto Enhanced Score as well?

Cecilia

Well, an auto TL is either on your reports or it isn't. Whether or not it's there has nothing to do with if an industry option is or isn't used. And remember, not all dealers and lenders use the auto industry option. This is why I recommend you ask the finance dept prior to applying. Obviously, if the dealer\lender is using classic\beacon (non-auto) it wouldn't matter whether or not you had an auto TL.
 
Make sense?
Message 9 of 11
Regular Contributor

Re: Tuscani (or anyone else) just read your auto enhanced thread and



Tuscani wrote:


ktl55 wrote:


Tuscani wrote:
Your auto score will be lower than your classic FICO if you have no auto history.



So, that being said. Should my dh and I not use my credit when car shopping? I wanted both cars to have my name attached so that I can have car paying history


Depends.. Adding your credit might not yield the best rate; however, both incomes (assuming you work) could help get the app approved.


Why is that, because I don't have auto loan experience; it's an installment loan, I do have a sl does that history account for anything? I do work. Are you saying that because of my "non-auto history" I could be denied for an auto loan all together?
Message 10 of 11