The Credit Score Car Dealers REALLY Use

As if car dealers didn't already have enough secrets, here's another to add to the ever-growing list. If you're a savvy auto loan shopper, you check your credit score before walking into the dealership. With your credit score in hand, you're prepared to get the best loan terms possible. There's only one thing that could go wrong with that strategy. Your car salesman might be using a different credit score to approve your auto loan, one that you don't have access to.

Your FICO score has versions other than the one you're given through providers like MyFico.com. Different lenders can request your FICO score with Industry Options. One of which is the Auto Industry Option used by auto lenders to approve your car loan. Right now, you can't see your FICO score with the Auto Industry Option because it isn't offered to consumers.

If this is something you'd like have access to, write to the Fair Isaac Corporation expressing your interest. An increased consumer demand might encourage the offering of the FICO score Industry Option versions used by various lenders.