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Will application for new car lease financing get me access to FICO score?

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lolabelle
Regular Contributor

Will application for new car lease financing get me access to FICO score?

I had a call from the local VW dealer yesterday, wanting to "purchase" my current car.  The lease on it is up in about 6 months.  I'm looking to downsize and lower my payment on my next car - and even better if I don't have to wait 6 months to do it - so may go in to look at options this week.

 

I was also thinking today about checking my FICO score... but then got to thinking that maybe I would be able to see one of them during the financing application process?  Does anyone know?  Is it standard practice for dealerships to tell you what your score is if you ask?


Starting Score: 732 (EQ)
Current Score: EQ 08 - 837! Whoo!! (5/14/14);EQ 04 - 795! (5/15/14) 748 (TU - 5/21/12); 760 (EX - 4/16/12 AMEX pull)
Original Goal Score: 760+ EQ --> decimated!
New Goal Score: Just keep swimming...


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Message 1 of 4
3 REPLIES 3
llecs
Moderator Emeritus

Re: Will application for new car lease financing get me access to FICO score?

I believe yes. I had two car loans originating in 2001 and 2003 and received scores back then. As an FYI, the scores from a car lender will likely be different than the ones pulled here. Many dealerships use an auto-enhanced FICO.

Message 2 of 4
pizzadude
Credit Mentor

Re: Will application for new car lease financing get me access to FICO score?


@lolabelle wrote:

I had a call from the local VW dealer yesterday, wanting to "purchase" my current car.  The lease on it is up in about 6 months.  I'm looking to downsize and lower my payment on my next car - and even better if I don't have to wait 6 months to do it - so may go in to look at options this week.

 

I was also thinking today about checking my FICO score... but then got to thinking that maybe I would be able to see one of them during the financing application process?  Does anyone know?  Is it standard practice for dealerships to tell you what your score is if you ask?


So how would this work, does the dealer assume your last 6 lease payments, or does your lease just terminate early ( with no cost to you ??  )

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 4
lolabelle
Regular Contributor

Re: Will application for new car lease financing get me access to FICO score?

 


@pizzadude wrote:

@lolabelle wrote:

I had a call from the local VW dealer yesterday, wanting to "purchase" my current car.  The lease on it is up in about 6 months.  I'm looking to downsize and lower my payment on my next car - and even better if I don't have to wait 6 months to do it - so may go in to look at options this week.

 

I was also thinking today about checking my FICO score... but then got to thinking that maybe I would be able to see one of them during the financing application process?  Does anyone know?  Is it standard practice for dealerships to tell you what your score is if you ask?


So how would this work, does the dealer assume your last 6 lease payments, or does your lease just terminate early ( with no cost to you ??  )


That's a really good question.  I would guess it's the latter since the financing is through VW's internal credit leasing department and it's a VW dealer, but I'm not at all sure.  I'm going to give them a call over the next few days to get some info and will report back. 


Starting Score: 732 (EQ)
Current Score: EQ 08 - 837! Whoo!! (5/14/14);EQ 04 - 795! (5/15/14) 748 (TU - 5/21/12); 760 (EX - 4/16/12 AMEX pull)
Original Goal Score: 760+ EQ --> decimated!
New Goal Score: Just keep swimming...


Take the FICO Fitness Challenge






Message 4 of 4
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