Auto Credit Scoring

ap84 · ‎06-11-2014

Hello all

I woulld like to know the difference beween the Experian scoring model (FICO0 and the auto creidt score. My auto creidt score is 100 points lower than my FICO score, probably becuase I have a lt of late payments. Is there anything that I can do to improve this score. I have 1 year left to pay my car off. Thank You!

Starting Score: 508, 532, 558
Current Score: 548, 634, 648
Goal Score: 700

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Anonymous · ‎06-11-2014

Here's one thread that describes the differences:

http://ficoforums.myfico.com/t5/Auto-Loans/FICO-Auto-Enhanced-Scores/td-p/228198

It might be possible to find lenders, for example CUs, that don't use the auto enhanced score for auto loans.

However, if the late payments are on your report, there still may be issues.

EW800 · ‎06-11-2014

Although I am recovering from credit issues in the past, I would love to know my auto-enhanced score. I have issues with a foreclosure and credit card baddies, however when it comes to auto loans, my report is perfect. My credit report currently shows three trade lines for auto loans - all perfect payment history. They are all closed/fully-paid now, but should look pretty good from a auto scoring stand point. Perhaps this would mean that in my case my auto-enhanced score would be a bit higher than what I will call my "regular" score?

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2024: EX8: 847; EQ8: 850; TU8: 848 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .

azguy13 · ‎06-11-2014

@EW800 wrote:
Although I am recovering from credit issues in the past, I would love to know my auto-enhanced score. I have issues with a foreclosure and credit card baddies, however when it comes to auto loans, my report is perfect. My credit report currently shows three trade lines for auto loans - all perfect payment history. They are all closed/fully-paid now, but should look pretty good from a auto scoring stand point. Perhaps this would mean that in my case my auto-enhanced score would be a bit higher than what I will call my "regular" score?

The foreclosure may be factored into your auto-enhanced since they take into account your installment loan history, not just auto loans. Sadly, we cannot pull our own enhanced models.