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Auto FICO & financing question

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Valued Member

Auto FICO & financing question

I understand that on a home loan/mortgage, a lender uses the middle of average FICO score. For auto financing, does the auto financing company (dealer, bank, CU, etc.) do the same (take an average of your AutoFICO scores) or do they rely on a specific CRA? For example TU and EQ show my previous Ford Credit accounts (all up to date and paid on time Smiley Happy ), where EX does not show ANY of my past auto accounts. If a lender only looks at EX, am I in trouble (with higher rates, a higher possibility of denial, etc.)?
My Last(???) 3 Score FICO:
2/12/09: TU: 718 :: EQ: 724 :: EX: 728
Message 1 of 12
11 REPLIES 11
Valued Member

Re: Auto FICO & financing question

Before you apply for your next auto loan purchase & print out your latest FICO scores from all 3 agencies. Bring that print out with you to your Bank, CU, dealership etc & if they quote you a rate higher than you feel you deserve or flat out lie to you about your credit report you have documentation to help get you a better rate. Never let a dealership know more about your credit scores than you & you should be fine once they know they cannot fool you.
Message 2 of 12
Valued Member

Re: Auto FICO & financing question

I plan on doing that - printing out my credit reports, not telling them I have them, and see what they say first. If I don't like what I hear, it's time to quote from the classic "Blazing Saddles":

"Excuse me while I whip this out!!" Smiley Happy
My Last(???) 3 Score FICO:
2/12/09: TU: 718 :: EQ: 724 :: EX: 728
Message 3 of 12
Moderator Emeritus

Re: Auto FICO & financing question

Generally, auto finance companies will pull one specific CRA. Very few pull all three.
Message 4 of 12
Valued Member

Re: Auto FICO & financing question



@Tuscani wrote:
Generally, auto finance companies will pull one specific CRA. Very few pull all three.





Does that mean if the lender pulls only EX (where none of my auto accounts appear) I might not get as good a rate (or worse) as if they pulled TU and saw all my other auto accounts were all paid according to terms? Does anyone know who Chrysler/Jeep pulls?
My Last(???) 3 Score FICO:
2/12/09: TU: 718 :: EQ: 724 :: EX: 728
Message 5 of 12
Regular Contributor

Re: Auto FICO & financing question

Most car dealerships pull Equifax. I have never heard of a car dealer pulling Experian. But that has been my experience.

Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


Take the FICO Fitness Challenge
Message 6 of 12
Contributor

Re: Auto FICO & financing question

I looked at MB they pulled TU
Message 7 of 12
Moderator Emeritus

Re: Auto FICO & financing question

Correct. Which state are you in?
Message 8 of 12
Valued Member

Re: Auto FICO & financing question

Tuscani, I live in OH, west of Cleveland.
My Last(???) 3 Score FICO:
2/12/09: TU: 718 :: EQ: 724 :: EX: 728
Message 9 of 12
Moderator Emeritus

Re: Auto FICO & financing question

EQ dominates the Midwest.
Message 10 of 12
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