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

September 18, 2009

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?

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

Joshua Barnard, ChFC