Auto Dealership Reporting FAQ

Frequently asked questions about reporting auto loans and leases to credit bureaus.

What types of auto accounts can be reported?

You can report the following types of auto accounts:

  • Auto Loans (Account Type 00): Traditional vehicle purchase financing
  • Auto Leases (Account Type 3A): Vehicle lease agreements

Both account types are reported as Installment (Portfolio Type I) accounts.

How often should auto loans be reported?

Auto loans and leases should be reported monthly to all major credit bureaus. Your monthly report should include:

  • All active accounts (current and past due)
  • Recently paid-off accounts
  • Any accounts requiring corrections or deletions

Important: Continue reporting paid-in-full accounts for 3 months after the account is closed and marked as paid in full.

What is the difference between reporting an auto loan and an auto lease?

The main reporting differences are:

  • Auto Loan (Account Type 00): Reports the original loan amount in the Highest Credit/Original Amount field
  • Auto Lease (Account Type 3A): Also reports as installment, but uses the 3A account type code to designate it as a lease

Both use Portfolio Type "I" (Installment) and follow similar reporting requirements for payment history and account status.

How do I report a repossessed vehicle?

When reporting a repossessed vehicle:

  • Use Account Status Code 96 (Repossession)
  • Report the date the vehicle was repossessed in the Date Closed field
  • Continue reporting the outstanding balance after repossession
  • If the account is charged off after repossession, change to Account Status 97
  • Use the Original Charge Off Amount field to report the amount charged off

Note: Continue reporting monthly updates on the balance and any payments received.

What happens if a customer refinances their auto loan?

When a customer refinances:

  • Original Loan: Report as paid in full with a closed status and Special Comment AS (Refinanced)
  • New Loan: Report as a new account with a new Date Opened reflecting the refinance date
  • Do NOT transfer the original Date Opened to the new account

Important: If you sold the loan to another lender, use Account Status DA to delete the account from your reporting after the sale.

How do I handle co-signers on auto loans?

For auto loans with co-signers:

  • Report the primary borrower with ECOA Code 1 (Individual) or 7 (Maker)
  • Report the co-signer with ECOA Code 5 (Co-maker/Guarantor)
  • Both parties will have the same payment history reflected on their credit reports
  • Both must be reported monthly with complete identifying information

Note: If it's a joint purchase with equal responsibility, use ECOA Code 2 (Joint) for both parties.

What should I report in the Original Amount field?

The Highest Credit/Original Amount field should contain:

  • The original principal amount of the loan
  • Exclude interest charges and fees
  • Include any down payment if that's how the loan is structured
  • Do NOT update this amount if additional charges are added later

Example: If a customer finances $25,000 for a vehicle purchase, report 25000 even if the total amount including interest is $30,000.

How are late payments calculated for auto loans?

Late payments are calculated from the due date:

  • 1-29 days past due: Report as current (no delinquency)
  • 30-59 days past due: Report Payment Rating "1" (30 days)
  • 60-89 days past due: Report Payment Rating "2" (60 days)
  • 90-119 days past due: Report Payment Rating "3" (90 days)
  • 120+ days past due: Report Payment Rating "4" or higher based on days late

Important: Calculate from the original due date, not from when the last payment was received.

When should I delete an auto loan account?

Use Account Status DA or DF to delete accounts when:

  • Reporting Error: Account was reported in error (use DA)
  • Fraud Confirmed: Account confirmed as fraudulent (use DF)
  • Deceased Consumer: After reporting ECOA X for deceased, delete if no other liable consumers remain (use DA)
  • Account Transfer: Loan sold or transferred to another entity (use DA)

Warning: Do NOT delete accounts simply because they're paid off. Report them as paid/closed for 3 months, then stop reporting.

How do I report voluntary surrender of a vehicle?

When a customer voluntarily surrenders a vehicle:

  • Use Account Status Code 95 (Voluntary Surrender)
  • Report the Date Closed as the surrender date
  • Continue reporting any outstanding balance (deficiency)
  • Report payments if customer makes payments on deficiency balance
  • If balance is charged off, change to Account Status 97

Note: A voluntary surrender is still a derogatory status and will impact the customer's credit score.