FICO auto score
Instead of the traditional 300-850 credit score range, FICO® Auto Scores feature a scale of 250-900. A higher FICO® Auto Score indicates less credit risk — just like a higher score means less risk under other credit scoring models.
What FICO score do car dealers use?
Most car dealerships use the FICO Score 8 scale to determine your eligibility for a loan. The FICO score is the most widely used because it is considered to be the most accurate assessment of your credit standing. It takes the scores of all three major credit bureaus to create a FICO score.
What credit score do auto lenders use?
Auto lenders use a special reporting system called FICO® Auto Score when determining the creditworthiness of a potential customer. The three credit reporting bureaus that contribute information to your FICO Auto Score are TransUnion®, Experian™ and Equifax®.
What is a good FICO auto score 8?
In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.