FICO 9 Auto

[Andy-Griffin]

Are there any lenders using the FICO Auto 9 scores?

[Appleman]

PenFed seems to be using the regular FICO 09

[BamBam2000]

Hey Andy did you ever find any. I heard Honda was using FICO 9.

[Andy-Griffin]

I haven't found anything concrete yet. Just speculation.

[BamBam2000]

So I was able to figure this much out. About two weeks ago I did a soft pull pre-qualifier on the Nissan website. It asked me for some basic information and came back with a 660 equifax score. Based on myfico scores on that date they were pulling my FICO 9 Auto scores for Experian. My auto score 9 is EQ-669, TU-634, and EX 660. I decided to wait and better my chances once my Chapter 13 is discharged. It's paid off but the court system in Chicago is like a turtle. SLOW! Since then my scores have changed  (went down) as I disputed errors on my report (account listed twice) accounts not updated in 5 years. So I may have to wait. I can get approved around 8.9% but I'm hoping to get is down to at least 5%.

10-30-17 EQ=637, TU=568, EX=582 (just dropped 26 points after I disputed my mortgage payments not showing) Ughhh!!!!!

[Anonymous]

Try to offer a larger down payment -- 20% down can help you get way better interest rates.

I helped a friend recently get a car loan and he was offering 5% down at 12.9% but once he raised it to 20% down they lowered it to 5.9% immediately and he has subprime FICO scores.

[BamBam2000]

With my trade I’m prepared to go 20% but I’m not telling them that. Holding on to my wild card hoping I don’t have to use it.

[Anonymous]

Yep, always keep negotiation ammo in your pocket and hammer them on negotiating that lower APR.  If need be, offer to increase the down payment a bit to see if it helps.

I prefer to see people get loans at the lowest APR/lowest down payment and then use their secret stash to pay the loan down 30-60 days after it reports.  If you can get your loan "utilization" down quickly, your FICO scores will bounce back quicker!  That's assuming your loan has no prepayment penalty and that bigger payments can apply to reducing principal and not future interest+principal payments.

[BamBam2000]

I will not, repeat will not take out a loan that has a repayment penalty. If that is all I can get I just won't have a car. I'm driving a 2007 RDX that I have put over $5000 in this year. She's been good to me but I don't trust her on the road for long hauls anymore. I'm trying to stay with Nissan since I had two previous loans and they were all good and on time and one is still showing on my credit report. My scores aren't too terrible since I'm still pending the BK discharge but I'm hoping I can get a decent a decent rate. I'm planning on paying back every two weeks but I just don't want to get sub-primed to the third exponent. Cleaning a my reports a bit with old and incorrect data has raised me up about 30 points but I'm currently stuck. The discharge may or may not  help but I know the finance people would prefer that I have the paper so I'm holding out till the last week of the year hoping I can get a deal.

FICO 8 EQ-637, TU-568, EQ-582

CK is TU=699 and EQ-721 which is just there to humor me I guess

[sjt]

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@Andy-Griffin wrote:
Are there any lenders using the FICO Auto 9 scores?

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Heard that Mercedes Benz Financial Services uses FICO 09.