Key Takeaways

• FICO® Auto Score 10 is one of several FICO Auto Score versions that dealerships may encounter when submitting a deal.
• FICO Score 10T uses trended credit data, but it is a separate model from FICO Auto Score 10.
• Different lenders can use different scoring models, so the same customer's score may vary between funding sources.
• Reviewing the full credit file can give F&I teams more context than relying on a score alone.
• Knowing which models your funding sources use can help your team interpret different scores and determine where to submit a deal.

What Is FICO Auto Score 10?

FICO Auto Score 10 is an industry-specific FICO model designed for auto lending. FICO introduced the Auto Score 10 version in 2021 as part of the FICO Score 10 family. Like other industry-specific FICO Scores, it uses a 250–900 scale.

Industry-specific FICO Scores are designed to assess risk for a particular type of lending. Auto Scores are tailored to auto lending rather than applying the same risk assessment used by a general-purpose FICO Score.

The Score 10 generation was designed using newer credit data and analytics than earlier FICO models. FICO describes its newer scores as being designed to provide greater predictive accuracy than the versions they replace.

That does not mean Auto Score 10 will always produce a higher or lower number than an older Auto Score. The result depends on the customer's credit file and the model being used.

Where Trended Data Fits

One of the most discussed features of the FICO Score 10 family is FICO Score 10T. Unlike the standard FICO Score 10, the 10T model incorporates trended credit data, which gives the model a longer historical view of how a consumer's credit balances and payments have changed over time.

It is important not to assume that FICO Auto Score 10 and FICO Score 10T are the same thing. FICO lists Auto Score 10 and Score 10T as separate models. Whether a particular auto lender uses Auto Score 10, incorporates trended data, or uses another scoring model depends on that lender's credit process.

For F&I teams, the practical takeaway is simple: don't assume that a lender using the newest FICO generation is necessarily using the trended version. Ask which model the lender uses.

Why Multiple Auto Scores Are Still in Use

FICO has released several generations of Auto Scores over the years, and lenders do not all switch models at the same time. FICO currently identifies Auto Score 10 as a newly released version while also listing Auto Score 9, 8, 5, 4, and 2 among versions used in auto lending.

Changing scoring models is not simply a matter of selecting a new version in a software system. A lender needs to determine how the new model performs against its existing portfolio, review approval and pricing criteria, update systems, and make sure its credit policies continue to work as intended.

There is also a practical reason to keep an established model in place: lenders have years of experience with how their existing score performs within their own portfolio.

As a result, different types of funding sources can be on different timelines. A captive finance company, bank, credit union, or independent lender may use a different FICO Auto Score version or another scoring model altogether.

What Version Differences Mean for the Desk

For a dealership working with multiple funding sources, different scoring models can make a customer's credit profile look slightly different from one lender to another.

A customer might receive one score from a lender using Auto Score 8 and a different score from another lender using Auto Score 9 or Auto Score 10. FICO itself notes that lenders determine which score version they use, and different versions can produce different numbers from the same underlying credit history.

That difference does not automatically mean one lender's score is more accurate. Each model is designed to assess credit risk according to its own methodology and the lender's use case.

Two practices can help F&I teams manage that variability:

• Know your lenders' models. Ask funding sources which scoring model they use and keep that information current.
• Review the credit file before submitting. Where the dealership has a permissible purpose to obtain the report, a full-file soft pull can give the F&I team a broader view of the customer's credit history before the application is submitted to a lender.

Soft Pull Solutions can provide full-file credit reports and scoring information based on the models available through the selected report. Its integrations with dealer platforms, including RouteOne, can also bring credit information into the workflow dealerships already use.

Look at the File, Not Just the Number

A credit score is useful, but it is still a summary of the information in a consumer's credit file.

Looking at the underlying report can give an F&I manager additional context, including payment history, current balances, utilization, collection accounts, and previous auto credit. That context can help the desk understand why a score looks the way it does and identify potential financing considerations before submitting an application.

This is especially useful when different lenders use different scoring models. The scores may change, but the underlying credit history provides the context behind those numbers.

For dealerships that want to qualify a customer before submitting to multiple funding sources, a full-file soft pull can also support an early review of the customer's credit profile, where there is a permissible purpose to obtain the report.

Compliance Still Applies

The scoring model does not change the requirements that apply to obtaining and using consumer reports. Under the Fair Credit Reporting Act (FCRA), businesses need a permissible purpose to obtain a consumer report, whether the report is pulled as a soft or hard inquiry.

If credit information is used in a credit decision that triggers adverse action requirements, the applicable notices and explanations still need to be handled appropriately. The specific requirements depend on the transaction and decision being made.

For dealerships working with multiple funding sources, keeping the credit-pull process and related documentation consistent can help support compliance across the F&I workflow.

See the file before you pick a lender. Soft Pull Solutions provides full-file soft pull credit reports with tri-bureau data, helping F&I teams review a customer's credit profile before submitting to funding sources, where there is a permissible purpose to obtain the report.

Schedule a demo or call (844) 515-1550.

Frequently Asked Questions

What is FICO Auto Score 10?
FICO Auto Score 10 is an industry-specific FICO model designed for auto lending. It uses the 250–900 range used by industry-specific FICO Scores.

When was FICO Auto Score 10 released?
FICO introduced the Auto Industry version of FICO Score 10 in 2021, following the introduction of the broader FICO Score 10 family in 2020.

Do all auto lenders use FICO Auto Score 10?
No. FICO lists multiple Auto Score versions in use, including Auto Score 2, 4, 5, 8, 9, and 10. Individual lenders determine which scoring model they use.

Does FICO Auto Score 10 use trended data?
FICO Score 10T incorporates trended credit data, but FICO lists Score 10T and Auto Score 10 as separate models. Dealerships should confirm directly with each lender which model and data attributes it uses.

Will FICO Auto Score 10 give my customer a higher score?
Not necessarily. A newer model can produce a different score from an older model, but the direction and size of the difference depend on the customer's credit file and the models being compared.

How do I know which FICO Auto Score a lender uses?
Ask the lender or funding source directly. The model used can vary between lenders, so a score from one funding source may not match the score another lender receives from the same credit file.

This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney regarding your specific compliance obligations.