MyFico scores and the scores the Dealership pulled up are WAY different...

[Anonymous]

I bought all my FICO scores just yesterday to see where I'm at for a car loan. It turns out, MyFico has a much higher score reported than what the dealership pulled up just today. Why is that?

[Anonymous]

Sounds like they pulled your auto-enhanced score which focuses more heavily on your auto loan history than anything else. you can read all about it on this board, theres many posts about it.

[Anonymous]

What if I've never had an auto loan?

[InfinitiG35]

Did they actually show you the reports they pulled, or did they just tell you what the scores were?

[Anonymous]

They told me the scores.

[InfinitiG35]

Then they were probably lying. Many car salespeople are notorious for lying and telling customers that their scores are lower than they really are, just so they can charge them higher interest rates and make more money off the sale. That's why it's always a good idea to know ALL your FICO scores and have a copy of each report BEFORE you go to the dealership. Better yet, get your financing before going to the dealership so you don't have to worry about being scammed or ripped off. You can also go to the dealership with your report and scores in hand and show it to them, that way they know they can't tell you otherwise.

Message Edited by InfinitiG35 on 05-08-2008 12:14 PM

[Anonymous]

Great advice. Where would I go for financing though besides a personal loan? I admit my credit isn't great. It's going up and in decent repair. I think i'm financable but if the dealerships aren't the place who is?

[InfinitiG35]

Are you a member of a credit union? They are a lot more understanding for people with lower credit scores. Check out CUs like CCCU, Navy Federal Credit Union, or Pentagon Federal Credit Union or other ones in your area to see if you qualify to join. In most cases you can join online. You could also apply online at places like Capital One Auto, HSBC Auto, Roadloans. What are your FICO scores?

[Anonymous]

Well like I said.. somethign is funky with them. I just sent off some communications over to the bureaus.. They go like this.. Transunion: 447 Equifax: 522 Experian: 566 ugh.. it looks as ugly as it sounds.

[InfinitiG35]

Try Mariner Finance. A friend of mine had scores similar to yours and he was able to get a used car loan through them.