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Different Score?


willieesco
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yes it is possible... first off the scores you had may be FAKOs. They could be FICOs too but still could be different from what the auto dealer has. The CRAs sell their scoring models for different credit applications, for instance mortgage companies pull score models which are designed for thier business... same with auto financing.

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Also; there are some dealerships that have been known to "show" you a lower credit score than they actually pulled. This happens more often when you are looking for "in house" financing through the dealership. If they sell you on the low score they pulled, they can sell you a higher interest rate on the car financing. Then, when they shop your financing, they make a bigger profit off the higher interest rates.

My suggestion is to get a preapproved check from an outside lender and just go buy the car with that. Don't EVER do in house financing unless they can beat the rate you got with the outside lender.

JMHO

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