Car loan Score impact?

[NowIcare]

Ok so I have a question and was wondering if this great forums could help? So last month I purchased my first automobile my question is will opening a car loan lower my fico score initially because I assume as Im paying it down it will go up but what about the initial impact of the loan?

Thanks in advance.

Message Edited by NowIcare on 10-02-2007 01:55 PM

[Tuscani]

Any score drop will be shortlived. Auto adds to your mix of credit which FICO likes.