How will credit be affected after getting a car repo?

Answer When you finance a vehicle, you agree to make the payments to your lender on time every month. If you do not keep up with your payment obligations, your lender can repossess your car. A repossessio... Read More »

Top Q&A For: How will credit be affected after getting a car...

How many points will my credit score drop with a repo?

On One Hand: Probably 100 or SoAccording to, a repossession on your credit reports brings your score down by about 100 points. Repossessions are one of the worst things you can have on yo... Read More »

Is your credit affected negatively every time you run a credit check?

Your credit score is not negatively affected each time you check your own credit score, according to the Fair Isaac Corporation. Only credit checks that are initiated when you apply for new credit ... Read More »

Is my credit score affected if someone conducts a credit search on me?

Whether a credit search--called an inquiry--impacts your credit score depends on the kind of inquiry. A "soft pull," like the ones conducted by a company seeing if you pre-qualify for a credit card... Read More »

Will getting an auto loan improve my credit score?

Getting an auto loan can help your credit score in the long run if you make all your payments on time. It can hurt your score temporarily, however, if you are making too many inquiries on your cred... Read More »