what score is used for auto loans

Best answer


300 to 850

People also ask


  • What credit score do lenders use for auto loans?

  • Credit-scoring models from FICO and VantageScore are most commonly used for auto loans, but lenders may also use the industry-specific FICO Auto Scores. With the FICO Auto Scores, FICO first calculates your 鈥渂ase鈥?scores 鈥?your traditional FICO scores 鈥?then adjusts the calculation based on specific auto risks.

  • 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.

  • What credit score do I need to lease a car?

  • VantageScore and FICO Score are the two main scoring models that provide credit scores. Both score consumers on a scale from 300 to 850, and auto lenders may use either to approve you for a new car loan or lease.

  • Can I check my credit score before applying for a car?

  • Fortunately, you can check your credit score before applying to see what type of loan you may qualify for. VantageScore and FICO Score are the two main scoring models that provide credit scores. Both score consumers on a scale from 300 to 850, and auto lenders may use either to approve you for a new car loan or lease.

    Related Posts

    Leave a Reply

    Your email address will not be published.