https://ficoforums.myfico.com/t5/Auto-Loans/Preparing-for-NFCU-Auto-Loan-Pay-off-SSL-or-does-it-matter/m-p/6634955#M100781 <P>So coming up sooner rather than later it will be time for me to get a new vehicle and I'm likely going to look at NFCU for financing (assuming it's competitive).&nbsp; I currently have an SSL loan with a tiny amount left to payoff and I'm basically paying like $5/month just to keep the payment history going.&nbsp; My question is what would look best in NFCU's eyes when they look at my app...have the SSL paid off or does it even matter? I still have my old auto loan on my CR from probably 8 years ago if that matters.&nbsp; Any other things I should think about when applying with NFCU?&nbsp; I have a few products with them, but have never had an auto loan with them.&nbsp; Just want to make sure I give myself the best chance at the best rate I can get.&nbsp; Thanks for your thoughts.</P> Mon, 16 Jan 2023 17:30:30 GMT keekers 2023-01-16T17:30:30Z https://ficoforums.myfico.com/t5/Auto-Loans/Preparing-for-NFCU-Auto-Loan-Pay-off-SSL-or-does-it-matter/m-p/6634955#M100781 <P>So coming up sooner rather than later it will be time for me to get a new vehicle and I'm likely going to look at NFCU for financing (assuming it's competitive).&nbsp; I currently have an SSL loan with a tiny amount left to payoff and I'm basically paying like $5/month just to keep the payment history going.&nbsp; My question is what would look best in NFCU's eyes when they look at my app...have the SSL paid off or does it even matter? I still have my old auto loan on my CR from probably 8 years ago if that matters.&nbsp; Any other things I should think about when applying with NFCU?&nbsp; I have a few products with them, but have never had an auto loan with them.&nbsp; Just want to make sure I give myself the best chance at the best rate I can get.&nbsp; Thanks for your thoughts.</P> Mon, 16 Jan 2023 17:30:30 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Preparing-for-NFCU-Auto-Loan-Pay-off-SSL-or-does-it-matter/m-p/6634955#M100781 keekers 2023-01-16T17:30:30Z https://ficoforums.myfico.com/t5/Auto-Loans/Preparing-for-NFCU-Auto-Loan-Pay-off-SSL-or-does-it-matter/m-p/6634960#M100782 <P>Do not pay it off&nbsp;</P><P>While you will lose some points when new auto loan reports, paid down SSL will lower aggregate loan utilization which is scoring metric.&nbsp;</P><P>&nbsp;</P><P>You'll see "SSL works when it's the only loan on file" but thats absolutely not true. You will lose points because your aggregate loan utilization is no longer under 9%, but not as many points as you would if you only have one auto loan at 100% or so.&nbsp;</P><P>&nbsp;</P> Mon, 16 Jan 2023 17:53:23 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Preparing-for-NFCU-Auto-Loan-Pay-off-SSL-or-does-it-matter/m-p/6634960#M100782 Remedios 2023-01-16T17:53:23Z