@onmyway80 wrote:
Does anyone know how scores are calculated for joint auto loans? Do they average the two scores together. I guess what I'm asking is how do they come up with an APR when two people are applying for a loan?
Interesting question, I dunno because my name has been the only name on the paperwork for every car that I have bought. Same with credit cards and suchlike, my wife and I have those as individuals. We are both on the paperwork for our home purchase and mortgage, of course. With mortgages, I do know, they pull all three scores for each co-borrower, then take the middle of the three for whichever person has the lower scores. But I believe some auto lenders will only pull from a single reporting agency, and I dunno whether they follow the same rule of going by whoever has the lower scores.
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
