What kind of car loan brings d

Discussion in 'Credit Talk' started by TONY VEREL, Jan 2, 2001.


    TONY VEREL Guest

    Got approved w/Hyundai Motor finance company is this not as a good of car loan compared to wells fargo, union bank, etc? from what posters here has said is Household auto finance doesnt look good on your reports, maybe hyundai is similiar??? thanks to everyone!..
  2. sam

    sam Well-Known Member

    RE: What kind of car loan brin

    Hyundai is fine, just don't expect to have any resale value on that piece :) Better get some great sale price, and teaser rate to purchase a hyundai!!

    but any car loan, once paid, is awesome for your credit.
  3. roni

    roni Well-Known Member

    RE: What kind of car loan brin

    What a minute Sam. I thought that if a company defines themselves as a finance co. when they report to the credit bureaus, they are considered a finance co. and thus lowers the scores of all their lenders somewhat. That is what the discussion of Wells Fargo vs. Wells Fargo Finance.

  4. J. Edgar

    J. Edgar Well-Known Member

    RE: What kind of car loan brin

    The worst kind of car loan for your credit score is one which you default on or are habitually delinquent on.

    Installment loans with a positive payment history will improve your score, both in terms of your payment history factor and your credit 'mix' factor.
  5. marvin

    marvin Well-Known Member

    RE: What kind of car loan brin

    my guess is that they can hurt you while you are paying on them since there was probably a reason that you had to go with a finance company (bad credit), but a paid loan through a finance comapany should be just as good as any paid loan. This is just my opinion, and nobody said that fico makes sense. Everyone's goal is to get paid, so why would a loan look any better through a bank than a finance company, just so long as it was paid without any lates

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