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Tluna08

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What credit score is used for Auto refinancing?

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From what I've learned, I believe that most of the auto maker finance co's use FICO. Most of finance co's use one of  the big 3 or Vantage score which is based on all 3. Banks use their own algerithims that are all different.  So it's feasible to have as many as 10 or more  different scores on the same day. Generally they would be within 20 points of each other if all 3 CRA's had 100% accurate information. 

Just depends on who pulls it. 

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auto refinance

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i was told by a car salesman that only experian is used to determine your credit for auto refinancing is that TRUE or just another lie they tell?

Reply by
vicv

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False.. Each lender may vary on what report they use , they may use any of the three or any combination of.. It all depends on what service they are paying to use...

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