I'm currently paying down some debt that's at 0% interest, and once I have my debt paid off my plan is to buy a new or pre-owned truck, but I would like to do so without substantially lowering my credit score so that if I need to move in the next year or two my credit score won't be a hinderance.
First how will the amount of the car loan effect my credit score? Would the initial drop in my credit score vary greatly between a 10K and 40K loan? Would it be benifical to imdiately pay off a good portion of the loan to lower the debt to initial balance ratio, or would this not make a big difference in my score vs just making scheduled payments?
Here's what my credit reports should look like once my current debt is paid off and I'm ready to buy a new vehicle: