topic Re: Boat Loans - Scoring Model? in Personal Finance

Boat Loans - Scoring Model?

CreditFun — Thu, 18 Jun 2020 21:25:36 GMT

740 credit score seems to be the cutoff for the best rates and likeliness of approval.

Just wondering for boat financing what model is typically used?

My Equifax Scores

FICO 9 - 750

FICO 8 - 736

FICO 5 Auto - 734

FICO 8 Bankcard - 730

FICO 5 Mortgage - 718

Re: Boat Loans - Scoring Model?

Anonymous — Thu, 18 Jun 2020 22:06:39 GMT

Do you have a particular creditor in mind? It varies from lender to lender and they can use any model they want.

Re: Boat Loans - Scoring Model?

CreditFun — Fri, 19 Jun 2020 00:48:12 GMT

Sterling Associates

@Anonymous wrote:
Do you have a particular creditor in mind? It varies from lender to lender and they can use any model they want.

Sterling Associates

Re: Boat Loans - Scoring Model?

kaylord84 — Fri, 19 Jun 2020 04:19:57 GMT

@CreditFun wrote:

740 credit score seems to be the cutoff for the best rates and likeliness of approval.

Just wondering for boat financing what model is typically used?

My Equifax Scores

FICO 9 - 750
FICO 8 - 736
FICO 5 Auto - 734
FICO 8 Bankcard - 730
FICO 5 Mortgage - 718

Have you tried DCU I was told 685+ EQ FICO 5 gets you the best rates with them

Re: Boat Loans - Scoring Model?

CreditFun — Fri, 19 Jun 2020 17:58:23 GMT

Spoke to Space Coast Credit Union, they use Experian Fico 8 Auto score.