topic Re: Mercedes Benz Financial - Which agency/fico socre do they use? in Auto Loans

Mercedes Benz Financial - Which agency/fico socre do they use?

FixMyScore0 — Mon, 12 Mar 2018 21:59:27 GMT

Hey guys,

Based out of California. Looking to a lease a new Benz. Anyone know which agnecy they pull along with the Fico score type? (Auto score 8? Auto score 9?)

Thanks.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Wed, 14 Mar 2018 02:53:26 GMT

I did an application for purchase last night and they pulled my TU. I received an approval email early this morning. Not sure about auto scores vs. regular scores. I was approved with a TU score of 642 IIRC.

BTW.... that approval is with absolutely $0 down and confirmed with the finance manager today that I do not have to put down one penny.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

FixMyScore0 — Wed, 14 Mar 2018 21:20:45 GMT

Just got approved, albeit at tier 3 unfortunately.

FYI, they use Fico Score 9 but NOT Auto enhanced.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Wed, 28 Mar 2018 02:18:14 GMT

Are you in SC by chance?

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Fri, 30 Mar 2018 19:05:33 GMT

Anyone knows the currrent rates for Tier 1?

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

JGGM — Sat, 31 Mar 2018 02:12:52 GMT

@Anonymouswrote:
Anyone knows the currrent rates for Tier 1?

For leases, typically the money factor (rate) varies by vehicle and term.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

nykos5000 — Fri, 26 Oct 2018 06:49:27 GMT

So I want to resurect a dead thread here ...I was approved today with MBFS with tier 2 rates. They pulled my Transunion Auto 4 and Experian Auto 8...seems that the versions vary across the board but I am in SoCal. My TU Auto 4 was 616 and my EX Auto 8 was 624 but I was able to get their tier 2 rate which typically starts at 675. MBFS does not base tiers solely on score as I am a testament to that today...

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Wed, 14 Nov 2018 14:49:45 GMT

This week...They pulled both my Experian and Transunion both Fico Auto 8 her in Cali...got my Benz on 1 hour later...

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

SoundoftheSuburbs — Thu, 15 Nov 2018 07:29:56 GMT

@Anonymous wrote:
Anyone knows the currrent rates for Tier 1?

Those questions are best asked at the forum on Edmunds.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Thu, 13 Dec 2018 20:52:28 GMT

Yesterday I applied and was approved for a 2019 GLC 300. They pulled Transuion and used the Auto 8 score. I was approved and completed paperwork signing in less than one hour. My vehicle was delivered today. And I was very happy. Can't wait to get off of work and take it for a spin. I live in Ohio btw. Hope this helps.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

marmaladepie — Sun, 03 Feb 2019 20:44:52 GMT

I thought this thread was very helpful and just wanted to add to the DP despite the original question was a while go.

Also in CA and applied for financing for a 2018 CPO. For 1.99% for 60mo. They pulled only TU and listed auto 8 score as 816, but also listed vantage 3 score of 765. No POI requested.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Sat, 09 Feb 2019 02:14:02 GMT

Those of you who are interested in which bureau is used for car loans: it all depends on the lender and sometimes the region of the country. The dealer may pull all three, but the lender may use just one or also all three bureaus. Once the dealer pulls your report they will generally know which lender will approve--so they will send it to where they're certain to get approved. Just be prepared for MULTIPLE HARD PULLS.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

Anonymous — Tue, 19 Feb 2019 19:42:44 GMT

I recently been looking at CPO, it's basically the same price as the Subaru Crosstrek I've been looking at. My rear wheel drive just isn't cutting it in the snow up here. So i've been comparing AWD SUV's. I've always like certain MBZ cars, and though if I could pay a few Dollars more, why not.

So it seems they like to pull TU which is my lowest at 729, but also doesn't report the Medical Collections that EQ does. They are 25 points higher so go figure. My question is, considering the above story. What sort of DTI do they like to see? My income is only $60K, and current auto loan is $450. The lease on the car i'm interested in is estimated at $375-400 depending on the variables. My rent is $650, and have an installment loan for $483. $5K(24%) balance on Discover, and $3K(22%) on another CC. Affording the lease payments isn't an issue , but I'm concerned they might think my CC debt is too high. I could pay it off, but I'm earning a pretty high interest rate on it ATM versus 0% APR on the balances. They'll be paid off in 5 months anyways.

Re: Mercedes Benz Financial - Which agency/fico socre do they use?

marmaladepie — Tue, 19 Feb 2019 20:04:11 GMT

In our case, not sure if they looked our DTI (low) bc score they pulled was over 800. We also put down 25% on a CPO and the running promo was 1.99% for tier 1. No POI.

You could also ask them directly. Our sales guy was very upfront with us and we liked him.

Keep in mind, as you may have heard, they might double pulled TU.

The dealer pulled before they sent to MBFS for approval. In hindsight, I would have gotten a preapproval through MBSF first then taken that to the dealer.

Good luck!