Can a 10 years old repossession still affect my Auto Enhanced FICO?

[Ed]

Hi,

I’m looking into buying a new car, and I’m well aware of the auto enhanced FICO that a lot of dealers use. I had a repo 10 yrs ago, and I’m afraid that it is still dragging my auto enhanced FICO score low. My classic FICO is 685, so I was wondering how low can this repo drag my auto FICO?

I prefer to know before I start shopping…

Thank you

[Harold]

Is this repo showing on your credit report?

If this repossession is not on your credit report than it won’t affect your classic & auto enhanced Fico.

Although auto enhanced fico uses a different formula than classic Fico, still, both formulas only uses data that is on your credit report. A 10 yrs old repo should not be on your report, and therefore should have no affect on both FICO versions.

If, for some reason the repossession is still on your report – dispute it b4 rate shopping.

Good luck

[Shelson.S]

True, but…

A lot of dealers/financers maintain their own records much longer than the credit bureaus, so the dealership that had your car repossessed may still have records of that repo in its own system.

Simply use a different dealership/financer/lender.

[Judy V]

You may want to check up this post before rate shopping.

[Author]

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