Did you know that automobiles have a credit score? Well, it’s not really a credit score, but it might as well be. Automobiles have a specific score that enables consumers to decide if the vehicle is worth purchasing.

Just like credit reports and credit scores on consumers, vehicles have what is called an AutoCheck report and AutoCheck score. AutoCheck A Part of Experian is a automobile history report that includes the AutoCheck score. This tool enables consumers to view past history quick and easy and allows you to compare it to other automobiles. This lowers the risk of purchasing an automobile with unknown defects or problems. You can view the vehicles history and score on one report just like you can review your credit history and score.

Much like a consumers credit history and score, the AutoCheck Score performs the same way. This report and score will be affected by many factors. Look below and see the factors that affect the AutoCheck score.

• Accidents
• Mileage
• Age
• Automobile Class
• Number of Owners
• Title brands such as rebuilt title or salvaged
• Issues with the odometer (broken or rolled back)
• Damage to the frame
• Damage by water
• Lemon branded information
• Repossessed or stolen information
• Has the automobile been used as a police or taxi vehicle

The AutoCheck will provide you all this information along with the score that the vehicle is awarded. Data is gathered from the Department of Motor Vehicles, junk yards or salvage yards, recycling sites, auctions and insurance companies. They also gather information from police reports in all 50 states including the District of Columbia.

The AutoCheck score has a range between one and one hundred, but, you have to make sure you understand what you are looking at. While this score is based on the information in the report, it is just like your credit report and it may be confusing. The AutoCheck will provide the score range for the particular vehicle that is in question. Each vehicle will have a specific range that it is graded on.

Example:

2004 Ford Escape
Score: 92
Score Range: 86 – 90

2005 Chevy Trailblazer
Score: 93
Score Range: 94 – 98

In the example above you can clearly see that the Chevy Trailblazer has a higher score, however, if you look closely at the Score Range you may see a different opinion. The Ford Escape only has a Score of 92, but the range is from 86 to 90, this vehicle scores higher on the Score Range. The Chevy Trailblazer actually scores lower on it’s Score Range. So you may ask yourself, which one will be the better purchase based on the AutoCheck score.

Now, If you were basing your decision clearly on the AutoCheck score your best choice would be the Ford Escape. But some consumers are die hard Chevy lovers and some are die hard Ford lovers. To bad lenders do not base their decision on appearance and personality, rather than score.

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H & I Credit Solutions