Your Car Reveals Your Credit Score


MoneyTips

It seems obvious. If you drive an expensive car, you must have an excellent credit score – but that’s not always the case.

Credit scores are calculated from factors in your credit report, including on-time payment history and how much of your available credit you use. You could be a Lamborghini driver who is drowning in debt and regularly misses payments on items other than your beloved car. You could also own a Lamborghini because you’ve saved money for years, have no other debts, and used credit properly to enable your dream car purchase.

How do drivers’ credit scores correlate to the model of car that they drive? LendingTree data from used auto loan applications tend to fol…



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