My first auto loan... Will it increase my scores?

[TilltedBrim]

I already have an installment loan history with my student loans so will now having a auto loan as well somehow raise my fico.  Granted I understand that a good payment history is what raises your score.  My question is will simply now having a auto loan trade line reflect favorably?  Thank you in advance.

[delf]

I believe it will.  I got a unsecured student credit card when I started paying my student loans 4 years ago, then got an auto loan too.  My score worked itself up to 770 in 4 years.  Showing you are responsible about paying and the fact that banks are offering you money will indeed help your score and future offers of credit.