Experian and Equifax are the credit bureaus most commonly used for auto loans. They offer specialized auto lending solutions (such as Experian’s Auto Audiences) and receive a significant portion of their revenue for services associated with the auto industry. For example, the automotive industry contributed 7% of Equifax’s 2019 revenue (its fourth largest revenue segment) and 5% of Experian’s revenue for its most recent fiscal year (tied for its fifth largest revenue segment).
While Experian and Equifax are the most popular bureaus among auto lenders and car dealers, TransUnion can also be used for auto loan decisions. And the truth is, the credit bureau lenders use when evaluating your auto loan application probably will not influence their decision too much. In most cases, the contents of your major credit reports will be very similar, as will most credit scores calculated based on those reports.
It’s important to note, however, that if one or more of your credit reports is frozen, that could affect your loan application. So, it’s worth asking your lender which credit bureau they will use in their decision to determine if you need to temporarily remove your credit freeze.
Finally, remember that when you apply for an auto loan, your credit score doesn't tell the full story. Potential creditors/lenders will also look at things such as your full credit report, employment status, income, and assets.
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