topic Re: AUTO ENHANCED SCORE QUESTIONS. in Auto Loans

AUTO ENHANCED SCORE QUESTIONS.

Anonymous — Sun, 19 Apr 2009 23:01:44 GMT

Does this score work similarly to regular fico scoring? Do things have to fall off after 7 years? I had a repo about 12 years ago, will auto lenders still be able to see this repo. I ahvent owned a car since. My regular ficos are in the 660 range if i get my utility down and raise it further, will my auto enhanced score respond in the same way? Do they see the same inquiries as regular lenders, i have many inquiries on all 3 reports and i was wondering how much this affect that score.Ive been at my job for 11 years.Thanks so much, im really nervous about trying to get financing. Any advice would be greatly appreciated. I have approx 5800 in credit card debt with approx 38,000 in total credit limits. How do i figure out utilization?

Re: AUTO ENHANCED SCORE QUESTIONS.

Anonymous — Sun, 19 Apr 2009 23:57:04 GMT

By no means am I an expert, but from reading these boards and talking with some dealership F&I people your auto enhanced FICO is just computed a bit differently than your regular FICO. Prior auto loans carry more weight in the Auto Enhanced version. *Generally*, people's auto enhanced is slightly higher than their regular FICO.

Re: AUTO ENHANCED SCORE QUESTIONS.

Anonymous — Mon, 20 Apr 2009 05:06:53 GMT

Silly me.... look at the sticky post at the top. Much better explanation.

Re: AUTO ENHANCED SCORE QUESTIONS.

Anonymous — Mon, 20 Apr 2009 08:22:18 GMT

I already read the sticky at the top of the page. my questions are in addition to the info provided there.

Re: AUTO ENHANCED SCORE QUESTIONS.

Anonymous — Mon, 20 Apr 2009 11:28:57 GMT

The only lenders that will have record of your 12 year old repo will be the lender(s) who gave you the loan.

All items must come off your CR after 7 years, except BK, federal tax liens, etc.

The limitations on how long items remain on your CR has nothing to do with FICO. FICO only calculates your score based upon the contents of your CR. Your CR is maintained by the CRA's who must comply with FCRA which provides that derogatory credit may not remain after 7 years.

When you obtain a copy of your CR, that is all that there is. Potential lenders will not have access to anything more than you have access to, with the exception of Industry enhanced FICO scores, but again, that is a grading system of your CR, not additional information.

Hope that helps