topic Re: How Long Does Auto Loan Stay On Credit Reports in Auto Loans

How Long Does Auto Loan Stay On Credit Reports

jacksont1981 — Thu, 14 Aug 2014 23:33:23 GMT

Hi,

I had an auto loan back in 3/2004 paid on time with no lates or anything. Paid it off in 11/2005 and I havent had a car loan since but will be going for one soon and was wondering how long does that positive auto history stay on my reports? When will it drop and even if it drops, does the dealership still see that I had a positive auto history in the past?

Re: How Long Does Auto Loan Stay On Credit Reports

DrJim — Fri, 15 Aug 2014 00:52:54 GMT

10 years after it closed.

Re: How Long Does Auto Loan Stay On Credit Reports

Luscher — Fri, 15 Aug 2014 01:06:53 GMT

UP TO 10 years after closed

Re: How Long Does Auto Loan Stay On Credit Reports

CreditDunce — Fri, 15 Aug 2014 18:38:52 GMT

Pull your credit reports. I believe the date the old loan will be deleted should be listed on the EX and ?? reports. The deletion dates may be different on different reports.

Having a positive autoloan will help your approval with the bank/CU. More so with the auto enhanced FICO models. However, they look at your entire credit history to decide on the APR.

Re: How Long Does Auto Loan Stay On Credit Reports

jacksont1981 — Fri, 15 Aug 2014 20:15:22 GMT

@CreditDunce wrote:
Pull your credit reports. I believe the date the old loan will be deleted should be listed on the EX and ?? reports. The deletion dates may be different on different reports.

Having a positive autoloan will help your approval with the bank/CU. More so with the auto enhanced FICO models. However, they look at your entire credit history to decide on the APR.

Thanks CreditDunce, but if the loans falls off of my report, will the dealer still know I had a positive auto history or once it falls off then its gone forever?

Re: How Long Does Auto Loan Stay On Credit Reports

CreditDunce — Fri, 15 Aug 2014 20:24:37 GMT

@jacksont1981 wrote:
@CreditDunce wrote:
Pull your credit reports. I believe the date the old loan will be deleted should be listed on the EX and ?? reports. The deletion dates may be different on different reports.

Having a positive autoloan will help your approval with the bank/CU. More so with the auto enhanced FICO models. However, they look at your entire credit history to decide on the APR.
Thanks CreditDunce, but if the loans falls off of my report, will the dealer still know I had a positive auto history or once it falls off then its gone forever?

I am sorry it is gone forever. I wouldn't worry too much about it though. Even if it is gone, you can still qualify with a good rate. Autoloans are not that difficult to qualify for. Check with any CU's that you are a member of and see what rates they offer and what score they are looking for. With a little shopping you should be able to find a nice loan. The key is just to have some positive credit history.

Re: How Long Does Auto Loan Stay On Credit Reports

jacksont1981 — Fri, 15 Aug 2014 20:26:18 GMT

@CreditDunce wrote:
@jacksont1981 wrote:
@CreditDunce wrote:
Pull your credit reports. I believe the date the old loan will be deleted should be listed on the EX and ?? reports. The deletion dates may be different on different reports.

Having a positive autoloan will help your approval with the bank/CU. More so with the auto enhanced FICO models. However, they look at your entire credit history to decide on the APR.
Thanks CreditDunce, but if the loans falls off of my report, will the dealer still know I had a positive auto history or once it falls off then its gone forever?
I am sorry it is gone forever. I wouldn't worry too much about it though. Even if it is gone, you can still qualify with a good rate. Autoloans are not that difficult to qualify for. Check with any CU's that you are a member of and see what rates they offer and what score they are looking for. With a little shopping you should be able to find a nice loan. The key is just to have some positive credit history.

Thanks CreditDunce!