what score is used for auto loans

Best answer

300 to 850

People also ask

  • What credit score do auto lenders use?

  • The FICO Auto Score uses a 250 to 900 range which means the auto lenders credit score could be much higher or lower than the score you check.

  • What is a FICO® Auto Score?

  • The FICO Auto Scores are based on a generic FICO Score, and then the score is altered to better predict a person’s likelihood of repaying an auto loan on time. Your history with auto loans could be especially important in determining your FICO Auto Scores.

  • Are auto insurance scores the same as your credit scores?

  • Just remember that your auto insurance scores are not the same as your credit scores, and a lender may not use your auto insurance scores. Even if you can鈥檛 see your exact FICO Auto Scores, reviewing your credit reports means having access to your auto loan history and can help you determine what you can do to improve your credit.

  • What is the best credit score to get a loan?

  • A higher score makes it easier to qualify for a loan and can result in a better interest rate. Most credit scores range from 300 to 850. Although a credit score is a good representation of the creditworthiness of an individual, this singular number doesn’t tell the whole story.

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