How many points does your credit score drop when you buy a car?

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1. Why did my credit score drop after I paid off my car? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE If you pay off and close the auto loan, your credit mix now has less variety since it only contains credit cards. This could lead to a temporary drop in your credit score. That said, it’s not necessary...
2. What is the difference between an insurance score and a credit score? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE A credit score and insurance score may seem the same, but a credit score is used to show lenders how likely you are to repay your debt. An insurance score is used to show insurance providers how likely...
3. Is 678 a good credit score to buy a house? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE If your credit score is a 678 or higher, and you meet other requirements, you should not have any problem getting a mortgage. Credit scores in the 620-680 range are generally considered fair credit. There are many mortgage...
4. Does a car accident affect your credit score? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE Is it Possible for an Accident to Hurt Your Credit Score? Getting straight to the point: yes. It is possible for a car accident to do a little damage to your credit score. It is not uncommon for...
5. What FICO score is used to buy a car? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE Most auto lenders use FICO Auto Score 8, as the most widespread, or FICO Auto Score 9. It’s the most recent and used by all three bureaus. FICO Auto Score ranges from 250 to 900, meaning your FICO...
6. Does DUI affect your credit score? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE Although a DUI conviction tends to affect many things in your life, the likelyhood of your DUI conviction affecting your credit score is minimal. Usually it will not show up on a credit report, as a conviction stays...