What will happen if my credit score drops and I have a car loan?
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I have one credit card that I charged up extremely high, and have since closed the account and I am working to pay it pack. However, I also currently I have an auto loan that I am getting stressed out about because I’m worried that if they check my credit score, they will want me to pay the entire loan now. What can they do if they check the score? (The payments on the car are up to date.) What can I do?
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G N A said:
Take a deep breath and relax. Unless your payments are missed or late, they won’t check your credit again since you are already approved and paying off the car.
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0February 11th, 2010 at 7:23 pm -
bud68 said:
Does your loan contain a clause that they call call it due because of your credit score changes? Most auto loans are fixed installment loans. As long as you pay per the agreement, it will not change.
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0 0February 11th, 2010 at 7:23 pm -
Penny B said:
they don’t give a hoot about your credit score once they sell you the car. they will not check your score. all they care about is if they get their money.
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0 0February 11th, 2010 at 7:23 pm -
Michael M said:
nothing unless you have a variable rate.
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0 0February 11th, 2010 at 7:23 pm -
number two is on the way™ said:
as long as you are making your payments their shouldn’t be any problem… until you want to finance the next one, then you might have trouble.
it’ll be okay, you can stop worrying.
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0 0February 11th, 2010 at 7:23 pm
