Auto Enhanced Spread

[Anonymous]

Does anyone know what kind of spread there can be between your regular fico score and the auto enhanced, in the example if your auto and installment loans have perfect history yet your regular fico score has some things weakening it that have nothing to do with auto mortgage or other installment loans, for ex a 670 fico due to some late cc payments, large number of inquiries, and high revolving utilization?

[Anonymous]

To clairfy I mean say ur fico was 670 due to the above, what approx range would the auto enhanced score be with perfect auto historY? Maybe someone who has worked at an auto dealership would have an idea

[Luscher]

In theory your auto enhanced score would be a little higher, not by much though. If you have paid a car loan perfectly in full and on time for say 3 years it should help you a lot if you were looking to get a new car loan from the same bank/dealer since you showed a consist on time payment.

[Anonymous]

I had a 5 year loan with Ally that was paid without any lates, that got paid off 8 months ago. My upcoming car will be new also from a GM dealership, do all GM dealerships use Ally for their new car financing?

[sccredit]

There is just no way to tell.  I have 9 paid off auto loans on my credit (2 of which have 2 30 day lates) and a 733 FICO and my last Auto Enhanced score was more than 30 points lower.  

[Kratos-TM]

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@sccredit wrote:

There is just no way to tell.  I have 9 paid off auto loans on my credit (2 of which have 2 30 day lates) and a 733 FICO and my last Auto Enhanced score was more than 30 points lower.  

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How old were those 30 day lates?

[Anonymous]

I know this thread is a bit old, but let me weigh in.  I had a previous auto-loan I paid off within a year in 2007 and just bought a new 2014 Accord Sport.  I pulled my Experian FICO the morning I was going to the dealer to run my credit and it said 713.  When Honda Financial pulled my Experian auto-enhanced it was 723.  I don't know what that means for your situation or have any analysis to offer just thought my stats might help you get some idea with the extra data!  Good luck!

[sccredit]

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@Kratos-TM wrote:

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@sccredit wrote:

There is just no way to tell.  I have 9 paid off auto loans on my credit (2 of which have 2 30 day lates) and a 733 FICO and my last Auto Enhanced score was more than 30 points lower.  

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How old were those 30 day lates?

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4+ years old

[Kratos-TM]

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@sccredit wrote:

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@Kratos-TM wrote:

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@sccredit wrote:

There is just no way to tell.  I have 9 paid off auto loans on my credit (2 of which have 2 30 day lates) and a 733 FICO and my last Auto Enhanced score was more than 30 points lower.  

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How old were those 30 day lates?

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4+ years old

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Aaahhh, so this is how the CRA's are getting more money for the lenders......the score works highly against you if you have "any" negative, even if it's minor and very old. The only way to get an impact from this auto spread game is to have a perfect record......and even then I've heard of some on here having a lower score.

[sccredit]

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@Kratos-TM wrote:

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@sccredit wrote:

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@Kratos-TM wrote:

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@sccredit wrote:

There is just no way to tell.  I have 9 paid off auto loans on my credit (2 of which have 2 30 day lates) and a 733 FICO and my last Auto Enhanced score was more than 30 points lower.  

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How old were those 30 day lates?

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4+ years old

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Aaahhh, so this is how the CRA's are getting more money for the lenders......the score works highly against you if you have "any" negative, even if it's minor and very old. The only way to get an impact from this auto spread game is to have a perfect record......and even then I've heard of some on here having a lower score.

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What I have figured out is the best bet is a Credit Union for financing.  Most use non-enhanced FICOs and are better with rates in general.  As always, your best bet is to go in with financing in place before hand.  Then Auto-enhanced or not it doesn't matter.