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I am so confused by my FICO Auto Score 8 Scores

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fury1995
Valued Contributor

Re: I am so confused by my FICO Auto Score 8 Scores


@Lou-natic wrote:

@precision wrote:

 

no auto loans since 2008 

 


This is why your auto scores are lower! Auto scores rely more heavily on information from auto loans and you haven't had one in so long that it probably isn't even listed on your credit reports anymore. My auto scores are higher than my normal FICO scores but I have two paid off auto loans and 2 ongoing auto loans reporting. The industry scores rely more heavily on industry specific metrics, if you have no/fewer of those metrics in your report to draw from then that will hurt you.


@precision  was asking why EX was lower than TU and EQ on Auto FICO 8.

I agree with @Lou-natic that they are all lower because no recent installment history reporting, however something on EX is weighing more heavily although the @precision  says there is no differences between the bureaus and no negative comments between all three. There something else in the data missing.

August 28, 2023 FICO 8

August 28, 2023 FICO BankCard 8

August 28, 2023 FICO Auto 8

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Message 11 of 13
precision
Contributor

Re: I am so confused by my FICO Auto Score 8 Scores

Update:

 

I applied to PenFed using the soft pull approval process.

 

For some reason the APR came in at less than half of what Capital One's service offered at around 7%.  The terms I applied for were for a 40K used car for 60 months.

 

That is about what I was expecting when I first tried the Cap1 service.  Unfortunately that 7% is still higher than I want but it is in line with what car loans are going for lately.

 

I have no idea what is going on with that Cap1 service.  At least I know that if necessary I can go with PenFed or NFCU and get a decent for the economic climate rate.

 

Thanks you everyone for your help.

Message 12 of 13
FireMedic1
Community Leader
Mega Contributor

Re: I am so confused by my FICO Auto Score 8 Scores

Congrats! Enjoy your new ride.


Message 13 of 13
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