
The FICO Auto Score, a credit score that car loan lenders use to assess potential borrowers, is called the FICO Auto Score. It consists of two parts: a base FICO score and an industry-specific overlay score card. The base FICO score can be used as a general indicator of financial well-being, while industry-specific overlay score card cards assess risk for auto debt.
Variables within your FICO auto score
Lenders use your FICO auto score to decide if you're a candidate for auto loan approval. While it can be modified in many ways, it is the most popular score used by lenders. FICO 9 was the most recent version and was introduced by lenders in 2014. It can be accessed from all three major credit reporting agencies. For better credit scores and better deals, you need to be familiar with the weights assigned each variable.

Credit bureaus receive information from many sources. These include loan companies, debt collectors, and others. However, it is important to keep in mind that some companies do not report to all three bureaus. Your FICO score may not accurately reflect your credit history.
Variables in your VantageScore Credit Score
Credit scores are based on a variety of factors, such as your payment history and age of credit accounts. These variables account for 61% of your total score. FICO, however, assigns 35% to payment history, 10% for new lines of credit and 15% to your overall credit history. Both credit scores penalize late payment equally. Credit management and timely payment can improve your score.
VantageScore 4.0 is the latest VantageScore credit model. It uses longer histories to give a more comprehensive picture of a borrower’s past credit history. TransUnion and Experian have higher reporting requirements regarding civil judgments and tax lien. Your VantageScore score therefore is more reliable.
How to access FICO auto score
When you're looking for a car, your FICO auto score could be an important tool. It can also be an important way to keep track of your credit history. While the FICO base score can be used to assess your creditworthiness, it is not specific to auto loans. There are many versions. It can range from 250 to 900. The most recent version, published in June 2016, was based on TransUnion's CreditVision Data trend data and covers up 30 months.

A higher FICO credit score can increase your chances of getting approved for loans and may also result in a better interest rate. Credit monitoring services may be able help you access your FICO credit score, depending on your financial situation. But, these services may not always be the same as your lender's. Many lenders use one of three credit bureaus when calculating their auto scores. Make sure you find out which one you can use.