auto enhanced score

MsTucker09 · ‎02-24-2012

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

Revelate · ‎02-24-2012

@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.

MsTucker09 · ‎02-24-2012

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

MsTucker09 · ‎02-25-2012

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