Q&A: How a car purchase affects your credit score

A little-known fact about credit scores is that generally automobile financing uses a unique set of scores.

Q: I recently applied for a mortgage and noticed my credit score was about 50 points lower than when I recently financed my car. Did the car purchase lower my score?

Related Videos
Jolie Apicella, JD
David Zetter gives expert advice
David Zetter gives expert advice
Joel Greenwald, MD, CFP
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
Ben Johnston gives expert advice
© 2023 MJH Life Sciences

All rights reserved.