Posts: 8
Registered: ‎10-23-2008
Need help understanding a closed auto loan while opening a new auto loan.

I recently paid off my old auto loan through chase bank, and got approved for a new lease. My question is will my score go down since i paid off my previous loan even though i have a new loan through the lease. And if my score does go down, will it eventually have a huge increase since i have shown that i can handle huge loans?

Starting Score: 647
Current Score: 667 EQ
Goal Score: 710

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