New car purchase caused score to crash

[Anonymous]

OK I traded in a vehicle and bought a new one and my score has dropped 65 points, yes my payment went up but is this normal?  Especially since two months before I did that I paid off all my CC debt. 

[CreditBob]

It will depend on what other accounts are reporting as well. Other important information is how long have they been open? How many accounts have you opened within the last year? I can tell you this, that you have a new account with a high balance. Another important factor, was there a loan with a balance on the vehicle that you traded in? If so then the credit report has not been updated and may take a month or so. I just wanted to mention that because that does happen.

[Anonymous]

i would have to say it is somewhat normal, because i had an auto loan for over a year, and i refinanced it with a different bank, and my score tanked over 50 points...DISASPPOINTED

[Anonymous]

Thanks for your response guys, my score just went back up 62 points, I guess that was the deal it hadn't shown my pay off on the trade in yet   So all is right in my credit world again  LOL