Monday, October 26, 2009

Getting Car Loan Using Experian??

I pulled my credit before going to the car dealership. I pulled my score with Experian and my score was 610. When I got to the dealership and they pulled my score it was 555. They said it is because they use a different agency. Is it possible to find out which car locations use Experian? I also pulled my score with a different credit bureau and got 605. 555 to 610 is such a huge difference. Any Ideas?


Getting Car Loan Using Experian??

OK, here is the problem. First of all no auto lender uses Experian, they either use Equifax or Transunion.

Secondly, auto lenders pull auto enhanced bureaus not the ones you get from These will always show different scores than the ones you get.

As far as the difference in scores, this is because all lenders do not report to all credit bureaus, some do not report at all and each bureau has their own way of calculating your score.

Getting Car Loan Using Experian??

First of all you need to get a full credit report from all 3 bureau's because you don't know which one they are or will use. Typically car and home loans they use all 3 for a combined score. The 3 agencys have their own information and it is all different. You should try to have a minimum of 660 average for all 3 before looking for a car loan.

No comments:

Post a Comment


High Risk Credit+ Cosigner Copyright 2008 All Rights Reserved Baby Blog Designed by Ipiet | Web Hosting