Has anyone had a low FICO and high Auto enhanced?

[summerhunny11]

Just wondering if someone had lower scores low 600's and applied for an auto loan and found out that their auto fico gave them more points and a better rate?

I am stuck in the low 600's with a perfect auto history (2 previous loans) and clean CC payments history for 2+ years. I have some collections keeping me down.

Looking to buy another car by July and need some hope!

Anyone?

[electra]

If your lender pulls an auto enhanced score then if you have perfect payment history you will likely have a higher score.  No way to tell until you have it pulled.   Looks like your TU score is not bad.  Is that FICO?  You can look at whogavemecredit.com to see who pulls TU for car loans.  Also, can you PFD or GW any of your collections? Time is obviously of the essence if you want a car in July.  You should be able to get an auto loan but the rate may not be the lowest.  Even if it's not, you can always refinance it later once your score improves.  Good luck!

[summerhunny11]

I have have considered to PDF but after spending $3k on my husbands collections, it did not bump up his score at all.

I have $1200 more to go to get the CC's under 10% so plan to use extra funds for that before my car purchase or lease. Nit sure how much my score will bump after that but hoping it will be worth my while.

My TU score is a Vantage Score on their site.

[electra]

Were your husband's collections deleted or just marked as paid? If they were simply updated as paid, that won't help his score and, in fact, sometimes can cause it to drop ironically.  Also, if the collections were very old and were deleted they would have less of an impact especially if there are more recent ones.

Getting utilization down is definitely a good way to get a bump.

Vantage scores are pretty useless. I'd recommending figuring out your EQ and TU FICO...that will give you a better idea of the interest rate you would be in range for.

[summerhunny11]

About 5 were deleted and about 1-3 yrs old. Two remain marked as paid. CC ut about 27% on him.

I am thinking about cancelling TU and just paying for MyFico.

[electra]

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@summerhunny11 wrote:

About 5 were deleted and about 1-3 yrs old. Two remain marked as paid. CC ut about 27% on him.

I am thinking about cancelling TU and just paying for MyFico.

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Ah, ok, that explains it.  FAKO scores are really for entertainment purposes only.  I bet if you were tracking your husbands FICO you would have seen a bump.  Definitely cancel the FAKO and get FICO if it's one or the other.  (I also use USAA which pulls all three and is an EX FAKO.)

Getting your utilization down under 9% should get you a decent bump.

[Hondazzle]

I purchased a Toyota in 1998, 5 year loan,  had a perfect payment record. That account no longer displays on my  credit reports as it is so old, but will the Auto Enhanced  Fico Score  include that payment history from so long ago?

I want to buy a Honda and want to qualify for the 0.9%. I only make $50,000 and rent. I did get preaproval from my credit union for 1.5%

ALSO- my credit union preaproval is for 90 days- how do I get them to extend that for a few more weeks if I choose to use them instead of Honda Finance?

Thanks.

FICO SCORE EQ 800

[llecs]

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@Hondazzle wrote:

I purchased a Toyota in 1998, 5 year loan,  had a perfect payment record. That account no longer displays on my  credit reports as it is so old, but will the Auto Enhanced  Fico Score  include that payment history from so long ago?

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Only reporting accounts would factor into your FICO. So if it deleted already then it wouldn't be included.