Auto-Enhanced FICO

[Anonymous]

Is there any way to quickly increase this score?  I know the obvious which is to pay your auto loans on time but I was just curious.

My middle score is around the 600ish range but my auto enhanced FICO was 540 the beginning of October whenever we were looking to lease a vehicle from a company who requires a 600 minimum. 

Since we can't pull our own auto enhanced FICO score is there a way to know when it would be high enough to get a certain score with an auto finance company?

[haulingthescoreup]

I don't think that we know enought about these, other than they do give extra weight to any auto loan history that you might have.

I don't know how much weight it puts on revolving util, but that's generally the score-driver (wel, along with negatives, of course) for classic FICO scores. What's your reported util on your regular FICO scores? And which auto-enhanced FICO did they pull --EQ, TU, or EX?

The best I have is to say that if you can significantly improve your regular FICO's, this one should follow along.

[Anonymous]

It was EQ.  He told me they pull both EQ and TU.  He said they don't use EX and that hardly anyone does nowadays.

My wife and I really need to get a minivan for our family.  We were hoping to lease one since the payment is usually cheaper.  This company in Dallas requires a 600 auto-enhanced. 

The reason mine is so low is due to a mistake in co-signing for a relative whom I didn't know was late on the payments until it was too late.  Her car was totalled last December and I believe the bank was finally taken care of in Feb of this year.  My auto loan and my wife's auto loan are perfect payment wise, and we haven't had an issue since early 2005 when we had to file a BK.  I've learned my lesson on the co-signing bit and will never do it again except for certain people we know for sure wouldn't do this to us like my dad who's last credit score was in the 820s.

I wish the auto manufacturers were more willing as well to help us but we know it's due to the credit score.

[Anonymous]

Here's another thought:

I have a current loan with Toyota Financial that was opened with a cosigner (this being my dad with the excellent score) and my wife and I have perfect payment history with it.  Even with my auto-enhanced FICO being low, would the payment history with Toyota sway them to approve us for a new loan (not trading in the Toyota we have but the truck we have for a minivan)?

[Anonymous]

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@Anonymous wrote:

Here's another thought:

I have a current loan with Toyota Financial that was opened with a cosigner (this being my dad with the excellent score) and my wife and I have perfect payment history with it.  Even with my auto-enhanced FICO being low, would the payment history with Toyota sway them to approve us for a new loan (not trading in the Toyota we have but the truck we have for a minivan)?

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Why don't you try a credit union? It is often times easier to call them and explain negatives on your credit report. Sometimes they are more willing to bend a little for their members. I just did this with an auto refinance through Addison Avenue FCU and my husband just did this with a credit app through Truliant FCU.