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Increasing auto scores

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Anonymous
Not applicable

Increasing auto scores

Sorry if this has been asked before but I have been looking in the forums and didn't really see an answer.

 

In the past I have always bought inexpensive used cars in cash and kept for around 8-9 years. Then traded them in. I have only had 2 loans in my credit history. One from 18 years ago for a snowmobile and now a loan for a jet ski that I am 15 months into a 5 year loan on. Perfect payment history. The snowmobile is now off my credit history so it's just the jet ski for installment loans and 3 credit cards for revolving loans. My question is do any of these credit lines help increase my auto scores? In particular the installment loan for the jet ski. In the Spring time I am going to be looking at leasing a brand new truck and am leaning towards an F150. Fico scores are all around 750-760 last time I checked a couple months ago. I have 2 credit inquiries that will be falling off in November 2020 and March 2021.

1 REPLY 1
dunn2500
Established Contributor

Re: Increasing auto scores

you can check your auto scores.....and even find which one a specific lender checks.....my guess is your score are more than fine forwhat you want....after buying quite a few new trucks in last few years is get financing set first than look at trucks.....at very least youll have a rate for dealers to compete with and youll know your APR.....credit unions are great place to start and inquiries over 2 week period count as a single.....enjoy your new truck as am sure you wont have an issue....i was much lower than you and got decent rate

 

i was @ 6% with 665 auto score so you should be 3% max and if term is under 60 mo maybe under 2%

 

everything seems to effect everything....i have higher mortgage and bankcard scores than auto and my only credit is autos so........you can purchase all your fico scores ......ie: my fico 9 score is highest so i try to find lenders who use it

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