Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
Re: Auto Credit and Scoring

bengerman wrote:
will it be at all based off your classic FICO? or just off the fact that you have no auto history?

They use the info contained in your EQ, EX or TU CR. Just use a different formula and weigh different things differently. With no auto history, it would tend to be lower than some good history.
No history is probably better than a bad history. Car finance companies know that people sometimes hit upon hard times and they might start missing bills. But, if you're making your rent or mortgage payment, and making your car payment, they'll probably be much more forgiving if you have have some CC COs. Miss a bunch of car payments or get a repo, probably will be less forgiving.