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Auto-Enhanced Score Question

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Anonymous
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Auto-Enhanced Score Question

My FICO credit scores are 750 or over, but I have never financed a car before. I need a new car and I was wondering if anyone knew how much my auto-enhanced scores would be affected since I don't have a auto-financing history on my report.

 

Thanks!

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SCF
Valued Contributor

Re: Auto-Enhanced Score Question

Hey Whitney, and welcome to the forums.

 

As far as I understand it, your Auto Enhanced scores are only affected by the auto history that you have, so a repo sends your auto score down, a paid on time loan sends your auto score up, but lack of an auto history should mean that your Auto Enhanced score is the same as your regular FICO.

 

With scores over 750, you should have no problem getting great financing, shop the dealer financing and your local bank/CU, any inquiries for an auto loan over a 14 day period should all count as one inquiry for FICO scoring purposes so you don't have to worry about the INQs dropping your score past the first one.

 

Good luck!

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