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cten07

American Honda Finance

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I believe it is Experian V3 Auto enhanced.  But if the F&I person has a good relationship with the AHFC credit analyst, they will pull a more reflective bureau in order to approve a deal.  I did it all the time.

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V3 or V8?

 

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The base version of FICO in use is Version 8.   However, auto enhanced has several subversions which are updated from time to time.  The latest auto enhanced version is V3 when you use Experian.   That's the one I chose until I find out my lenders use another and advise.  Marv.

 

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3 hours ago, cten07 said:

V3 or V8?

The versions of reports that auto finance companies use don't correlate to the public report versions. And before you ask - those are proprietary reports created for the auto industry. They use the same general data that's on your public report its just summarized and scored in a custom format that targets the auto finance companies needs.

 

4 hours ago, MarvBear said:

I did it all the time.

Did you retire from the dealership??

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Marv, 

Regarding Honda, I leased from them 2 cars from 2002 to 2008 with a perfect payment record and those accounts still show up on my credit report albeit closed. Would that help today with 580 scores for getting a lease approved? 

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I'm not Marv but as you may know leases are generally HARDER to be approved for, especially with favorable terms, than a loan. the prior history will help but a lot depends on why your scores are so low and what the LTV will be

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On 7/21/2019 at 12:06 PM, cten07 said:

Marv, 

Regarding Honda, I leased from them 2 cars from 2002 to 2008 with a perfect payment record and those accounts still show up on my credit report albeit closed. Would that help today with 580 scores for getting a lease approved? 

Possibly.   The only problem is that you have a 580 score and as others point out that leases are harder to qualify for.

 

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