Comments on: How much does a small used auto loan impact my credit? http://www.kickstartpress.com/auto-loan/how-much-does-a-small-used-auto-loan-impact-my-credit Fri, 30 Jul 2010 11:36:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: SPIFIMAN1 http://www.kickstartpress.com/auto-loan/how-much-does-a-small-used-auto-loan-impact-my-credit/comment-page-1#comment-305 SPIFIMAN1 Sun, 08 Nov 2009 04:07:59 +0000 http://www.kickstartpress.com/auto-loan/how-much-does-a-small-used-auto-loan-impact-my-credit#comment-305 Auto finance is what I do for a living and auto loans take 6-months of payments made as agreed to be rated. Your credit will be helped the best after 12-payments made as agreed. This is the first thing lenders look for when they are looking at a application for credit. I would agree with PJ except for the amount of payments you should make. I would make at least 12, and make sure whatever lender you use that they report to all three credit bureaus or you are wasting your time.<br><b>References : </b><br>Finance Manager for a car dealer for over 7-years. Auto finance is what I do for a living and auto loans take 6-months of payments made as agreed to be rated.

Your credit will be helped the best after 12-payments made as agreed. This is the first thing lenders look for when they are looking at a application for credit.

I would agree with PJ except for the amount of payments you should make. I would make at least 12, and make sure whatever lender you use that they report to all three credit bureaus or you are wasting your time.
References :
Finance Manager for a car dealer for over 7-years.

]]> By: P J http://www.kickstartpress.com/auto-loan/how-much-does-a-small-used-auto-loan-impact-my-credit/comment-page-1#comment-304 P J Sun, 08 Nov 2009 03:17:59 +0000 http://www.kickstartpress.com/auto-loan/how-much-does-a-small-used-auto-loan-impact-my-credit#comment-304 Put the money to pay off the loan in a savings account, get the loan let it cycle about 6 months then pay the balance off. This gives you a payment history although you will pay a bit of interest it will be a good trade line. Also initially your score will take a 5-7 point hit for the credit report when getting the loan, rebounds rapidly!<br><b>References : </b><br> Put the money to pay off the loan in a savings account, get the loan let it cycle about 6 months then pay the balance off. This gives you a payment history although you will pay a bit of interest it will be a good trade line.

Also initially your score will take a 5-7 point hit for the credit report when getting the loan, rebounds rapidly!
References :

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