bmw

[dalasdon]

is the myfico equifax fico score the same one that lenders pull?  i know there are diff scording models, wondering if anyone had an idea.  i was told with at least 580 i could get approved, im at 583, in no real hurry to go apply but just curious.  one sales rep said, hey pull your score, and take 20 points off, i believe he was thinking if i pulled a fako.

[webhopper]

I would say that with those scores you should look at something cheaper as a car, also lenders don't use fico for auto, they use an auto enhanced score that's different. Have you ever had auto loans, mortgages, or other installment type of loans before?

[dalasdon]

i had a jeep/chrysler loan from 2000/2005, where can you get auto enhanced auto score?

[MarineVietVet]

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@webhopper wrote:
I would say that with those scores you should look at something cheaper as a car, also lenders don't use fico for auto, they use an auto enhanced score that's different. Have you ever had auto loans, mortgages, or other installment type of loans before?

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Lenders use a FICO Auto-Enhanced Score.

[LS2982]

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@webhopper wrote:
I would say that with those scores you should look at something cheaper as a car, also lenders don't use fico for auto, they use an auto enhanced score that's different. Have you ever had auto loans, mortgages, or other installment type of loans before?

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+1

Or wait until your FICO scores climb a little higher.

[GregB]

BMW will use an Auto Enhanced FICO based on FICO 8 so it is one FICO version later than the one on here and Auto Enhanced on top of that. You will not be able to buy that score anywhere to see it in advance of applying.

I have been happy with BMW FS but I think the advise in a previous post to NOT buy a BMW with a horrible FICO score is good advise. I would wait until your score is up at least 100 points. You need more than that just to get up to average credit.

[Student_Loans_Kill]

BMW FS uses the Experian Enhanced Credit score.

600 or less is called progressive plus
601-639 is Progressive 
640-674 is standard plus
675 or more is super elite

[Tonya-E]

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@Student_Loans_Kill wrote:

BMW FS uses the Experian Enhanced Credit score.

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+1

[boomhower]

Get something cheaper.  Even if approved the interest rate is going to be horrible and you don't want to be paying that kind of interest rate on a $30k+ loan.  Get something cheap for the time being and get a Bimmer down the road when you can get a good rate.