Further, an 11 percent performance improvement is seen over the VantageScore 2.0 model for account management, and an 11 percent performance improvement for originations among the same population segment.

The VantageScore 3.0 model performs extremely well in an auto lender’s “decisioning zone”–the middle 40 percent of the population as ranked by credit risk–which is typical territory for mainstream lender originations. The VantageScore 3.0 model provides a 28 percent performance improvement over the CRC credit score model for account management, and also a 28 percent performance improvement for originations among consumers in the decisioning zone.

A 25 percent performance improvement is seen over the VantageScore 2.0 model for account management in the decisioning zone, and a 27 percent performance improvement for originations is seen.

For the Subprime population segment, the VantageScore 3.0 model provides an 18 percent performance improvement for account management, and a nine percent performance improvement for originations when compared to the CRC credit scoring model. The model provides a five percent performance improvement for account management in the auto sector, and a four percent performance improvement for originations when compared to the VantageScore 2.0 model.

Why it’s more consistent

Nearly identical risk assessment across the three CRCs

VantageScore 3.0 provides strong risk alignment across CRCs for the auto industry. For the near-prime to super prime credit tiers, default rates vary by an average of 0.10 percent for account management 20-point score bands, and 0.21 percent for originations.

More consistent consumer scores across the three CRCs

For the auto industry, consistency of consumer scores remains strong in the VantageScore 3.0 model, with nearly 80 percent of consumer scores within 20 points when sourced from two or more CRCs, and 92 percent of consumer scores within 40 points across CRCs.

Score distributions

With the auto industry, score distributions are highly consistent across all CRCs.

In the auto industry, VantageScore 3.0 achieves virtually identical performance across the three major CRCs for both originations and account management accounts.