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Whose credit score will be used?

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So we're going to be shopping for a new (used) vehicle in the next couple of months...currently my wife has a credit score (fako) that appears to be about 40-50 points higher than mine.  However, I make over double her income so would need to be included for financing.  I'm working on getting my score up as well but hers still might be higher...

 

How does that normally work for financing?  Will they go by highest score, lowest?  Or can she just put the loan in her name but include my income somehow?  We can document all income (W2's).

 

Thanks.

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Do not make ANY decision on a NON-Fair Issac model.  Just...don't! 

 

Who will be the primary applicant?  Therein rests the likely answer to your question...

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32 minutes ago, centex said:

Do not make ANY decision on a NON-Fair Issac model.  Just...don't! 

 

Who will be the primary applicant?  Therein rests the likely answer to your question...

Well that's a good question...I doubt she would be able to qualify for the loan just based on her income, so I assume either I need to be primary or at least secondary?

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Lenders have different guidelines.   On a joint application some with the score the transaction based on the primary applicant, in which case one would use the higher scoring person.   In other situations, lenders will score the transaction based on the actual driver of the vehicle.   The first scenario is more common.

 

I always recommend the best credit profile to be the first applicant on the transactions submitted to the bank.

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A little late in answering this,  but based on my own personal experience in December of 2017, I had a situation where a close friend who had a score less than 500 wanted to lease a new Honda Civic.  I offered to be a co-applicant.  My score was 895 out of 900 at the time.  I explained to the credit manager at the dealership that I wanted my friend to be the primary applicant but wanted the approval based off of my score.  He ran both of our credit and then had to get a manual approval from Honda credit but it worked.

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