Auto rating for credit? [Archive] - Honda Element Owners Club Forum

: Auto rating for credit?


Kigotai
09-15-2003, 10:38 PM
Is there such a thing as an auto rating? And is it different from your everday run of the mill credit rating ( I mean the numbers like 630, 710, etc.)? Someone told me this today and it is the 1st time I've ever heard this.

PJ

sean010101
09-16-2003, 11:27 AM
I've never heard of such a thing. When I bought my E and they ran my credit they gave me the normal credit score. so ...

supamann
09-18-2003, 11:27 AM
The term is probably "auto - approval". That just means your credit score is high enough and you are credit worthy enough that the dealer doesn't even have to submit your loan for approval. Dealer just sends in the contract and credit application for funding. I believe the credit score for auto approval with Honda is 680 and above with no derogatory credit and a minimum of 3 years in the credit bureau.