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  1. #1

    Default Auto Enhanced FICO Score

    Just ran across this, thought everyone would like to know more. There is a difference between your standard FICO score and the FICO Auto Enhanced Score, sometimes called the FICO Auto Industry Option score.

    Basically, it's weighted differently towards Auto history. In my opinion, it's something to avoid. Go to a dealer that before hand lets you know they don't use the Auto Enhanced Score.

    Auto Enhanced Score Discussion - Forum discussion on them.
    Industry FICO Scores - In case you're told they don't exist.

    Steve
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  2. #2
    Legend


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    Intresting read...thanks for sharing.


    Mike (Denver, CO) - 2008 Sierra 1500 Z71 SLE 5.3L 4WD

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  3. #3
    Legend Bigbomber's Avatar
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    Default

    X2 ,excellent read
    [/SIGPIC]2009 Chevy Silverado LT 1500 EXT CAB 4X4 Vortec 4.8L SFI,K&N air filter,Weathertech Floor Liners ,Weathertech Stone/Bug Deflector, Line X Spray On Bedliner, TruXport Rollup Tonneau Cover, Molded Mudguards, Viper 5701 LE 2 way Security Alarm/Remote Starter, Xm Satelite Radio,BILSTEIN 5100 rear shocks,BILSTEIN 5100 front levelling shocks,READYLIFT 2" rear lift blocks,Goodyear Wrangler Territorys -265/70R 17"

  4. #4

    Default

    What does everyone think? Have you checked your credit score like mine with the companies like Transunion, etc. Then you go into the dealership and it's all different? I've read that 99% of dealers use this credit score, and I've also read that it's nowhere near 99%. I question why there needs to be two different scores, it seems like a game if you ask me.

  5. #5
    Legend


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    I get a monthly report that contains all three agencies' credit reports as well as the corresponding scores. To me, it seems like the dealers would want to improve the buyer's position rather than hinder it, since most "sell" their loans to banks, credit unions, finance companies, etc. Have you heard if this separate credit analysis is being required from the financial institutions?
    Last edited by mfleetwood; 11-30-2010 at 10:24 AM.

  6. #6

    Default

    Here is another article on this subject. Personally, as a consumer, this really makes me angry that I have to monitor ANOTHER credit score, and it can be WAY off from the FICO score that you get from the agencies. All of the algorithms are secret too, so that really stinks.

    http://creditboards.com/forums/index...owtopic=125574

  7. #7
    Master Mechanic silverhobey's Avatar
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    Steve, this sounds very informative and has got some viewers thinking and reading up thanks to your info. Up here in Canada, I have never heard of this kind of credit checking. We are from a small community, so I only deal with my credit union anyway. I do see how skewed things can get when the dealer tells you one score, and your record checking tells you another score ---almost makes you think one side is run by the government !!!!

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