Do All Auto Loans Count Against My Credit Score

Written by Brady    Wednesday, September 09 2009

Many people think that any car loan will count against their credit and credit score. This is not always the case. If you buy a car from a "buy here, pay here" dealer and they did not run your credit score, chances are that the car loan will not be on your credit report and will have no impact on your score.

This leads to a difficult decision if you have bad credit. Obtaining a car loan and keeping up with your payments is a great way to turn your bad credit score around. However, if your credit is very bad, a buy here pay here may be one of your only choices. Rule of thumb, if you are trying to repair your score and you can get car loan through a dealer that will pull your credit information from one of the 3 credit bureaus, you are better off going that route.