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auto enhanced score

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MsTucker09
Regular Contributor

auto enhanced score

I have a question, since I have never had an auto loan, would my autoenhanced score be significantly lower than my regualr score?


Starting Score: EQ 462 9/30/11
Current Score: TU 577 4/10/12 EQ 607 4/10/12 PLUS 627 4/10/12 Beacon 5.0 621 lender pull 4/13/12
Goal Score: 650


Take the FICO Fitness Challenge
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Revelate
Moderator Emeritus

Re: auto enhanced score


@MsTucker09 wrote:

I have a question, since I have never had an auto loan, would my autoenhanced score be significantly lower than my regualr score?


Possibly but not guarunteed: I've heard people with various installment loan types have escaped any sort of penalty, and actually seen an improvement... but there's no guaruntees either way.  I would certainly (and am doing so personally) get an auto loan of some sort to not be in this position in the future. Smiley Happy




        
Message 2 of 4
MsTucker09
Regular Contributor

Re: auto enhanced score

thank you yes I plan on getting a new car within the next 2 months, even though I know the interest will probably be around 15%, I will refinance after 6mos to get a lower payment


Starting Score: EQ 462 9/30/11
Current Score: TU 577 4/10/12 EQ 607 4/10/12 PLUS 627 4/10/12 Beacon 5.0 621 lender pull 4/13/12
Goal Score: 650


Take the FICO Fitness Challenge
Message 3 of 4
MsTucker09
Regular Contributor

Re: auto enhanced score

okay great thanks


Starting Score: EQ 462 9/30/11
Current Score: TU 577 4/10/12 EQ 607 4/10/12 PLUS 627 4/10/12 Beacon 5.0 621 lender pull 4/13/12
Goal Score: 650


Take the FICO Fitness Challenge
Message 4 of 4
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