Frequent Contributor
Posts: 305
Registered: ‎08-24-2012
Re: Will an auto loan help or hurt me?

IMO your AAoA will take a hit, so that will probably lower it with such a new account. But shortly it will go back up. I've had mine 9 months and has slowly crept up. It will be good in the long run to have an installment account, so I'd say go for it if you don't have any plans for a mortgage or anything too soon.

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