multiple car loans

[Anonymous]

I have a question regarding my credit report that maybe some of the seasoned FICO experts can answer.   I own a business that requires that I finance a large number of vehicles.

I currently have 6 cars financed in my name.  These cars are all leased in my personal name due to credit retraints for the business. 

All of coarse are paid on time.

About 2 are traded in every year

None are kept past 2 - 3 years.

Do having all these cars on my credit hurt my score? 

One thing that the credit agencies claim is a problem with my score is that I have too many inquires on my report.  This is because I am constantly purchasing new cars.  Does FICO take in consideration how many accounts you have on your credit report when determining how bad inquires hurt your credit score?

My credit scores range from 670 - 630.  I dont have any problems getting loans for cars, but it is hard to get any sort of credit card at these rates.

Thanks for your help

[tbenz6876]

I have a friend that used to have a rental car business before he sold it. He purchased 50 cars for the business. Well the bank put each car on its own loan. He was not able tot get any other credit, but he could buy any car in world on credit.

It hurts you when trying to get other credit due to the number of installments loan. This is what I was able to get from him.

[Anonymous]

The problem is in the debt to income calculation done in the internal scoring systems of the ccc's.

I would go to your bank or credit union -