Is a FICO score used for car loans?

I want to check my credit before I apply for a car loan. Do most lenders use the FICO score?

Answer
Checking your credit score before you get a car loan is an awesome way to make sure you get the best rate possible!
All lenders are different in terms of what credit score they use. Some use one of the big three credit bureaus:
  • TransUnion
  • Equifax
  • Experian
Others use the FICO Auto Score. This score ranges from 250 to 900 and may have a more accurate assessment of how creditworthy you are for a car loan. To see your FICO Auto score, sign up for one of the FICO Basic, Advanced, or Premier credit monitoring services.
Each of these offers 28 versions of your credit score so you always know where you stand before applying for a loan, mortgage, or other types of credit.
Since you’re shopping around for car loan rates, do the same with your car insurance. With the Jerry app, you can compare dozens of quotes from reputable insurers so you always get the best rate possible.
Meta: Some lenders may use your FICO score to determine your creditworthiness for a car loan. Learn more here.
Eric Schad
Answered on Nov 01, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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