FICO 8 Auto scores question about score range

[WildestDreams]

Hi guys

I am rebuilding and need to get an auto loan and am looking at my FICO 8 auto scores - my regular FICO 8 scores are a little higher but still vary up to 80pts between the 3 companies but my understanding its that is most lenders use the 8 Auto so for those 

Experian and TU are 11 apart which would be reasonable however the 8 auto Equifax number is 126 and 115 points higher than the other 2.

How do lenders use these 3 numbers? Do specific banks pick one? Is it just an average of the 3? 

Thanks for any insights

[cashorcharge]

Just like credit cards, most lenders use a particular CB for their approvals...they don't use a blended score or average of the 3 like when a mortgage is being shopped.

Depending on the bank, will determine which CB they use for approvals.  Some banks may look at both and then lean towards using one for their approval, but in no way do they blend/combine/average them for an approval.

[WildestDreams]

i'm going to assume there is really no way to know who uses who? would it make sense for me to be upfront with dealerships finance department dont want to get totally screwed but they might know which of their banks tend to use which CBs?

[pizzadude]

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@WildestDreams wrote:

Hi guys

I am rebuilding and need to get an auto loan and am looking at my FICO 8 auto scores - my regular FICO 8 scores are a little higher but still vary up to 80pts between the 3 companies but my understanding its that is most lenders use the 8 Auto so for those 

Experian and TU are 11 apart which would be reasonable however the 8 auto Equifax number is 126 and 115 points higher than the other 2.

How do lenders use these 3 numbers? Do specific banks pick one? Is it just an average of the 3? 

Thanks for any insights

---

It varies widely in terms of which FICO score model / version will be pulled, many lenders continue to use the "classic" score versus an auto enhanced version.  YMMV.

[pizzadude]

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@WildestDreams wrote:

i'm going to assume there is really no way to know who uses who? would it make sense for me to be upfront with dealerships finance department dont want to get totally screwed but they might know which of their banks tend to use which CBs?

---

If you search here in the auto loans board by specific lender, there may be data points from others who've shared which CRAs were pulled.

If you're going to let a dealership pull your credit they'll very likely shotgun it out to many lenders unless you specifically request them not to.  They should however be able to give you a general idea of which of their lenders pull which score models / versions.

[FLLGuy]

@WildestDreams  Most dealers (finance people) i've reached out to are very familiar which CB they pull  (as the dealer) and their partner banks and CUs.  As previously recommeneded look through the approvals to get a pulse.  If that doesnt work just call the dealer and speak with someone in finance most should be accessible.  

[WildestDreams]

thanks guys