Two auto loans

[Anonymous]

I'm down to my final payment on one of my auto loans, so good news to be rid of a payment. Now my question is, how will paying off the loan affect my credit since I will still have the same mix due to having another car loan already, but will now have a better debt/income ratio?

[Loquat]

@Anonymous This question has been asked countless times...and unfortunately, no one can really tell you what will happen to your score without first knowing what your overall profile looks like. Even then it'll be a guess at best.

[Brian_Earl_Spilner]

Your debt to income ratio doesn't affect your score. It will be the new aggregate utilization that will make the biggest impact.

[Anonymous]

Thank you very much! 

[4sallypat]

When my car loan paid off, 2 months later, my scores dropped 10-15 pts across all 3 CRA.

At that time I also had a second auto installment (lease) but still the scores dropped which felt like a punishment for paying off a loan.

Then a few months later, the scores rebounded.....

[Anonymous]

That's what I was assuming would happen, but I wasn't totally sure since I have two loans. On my last vehicle that I paid off I took a nasty hit and it was very slow to rebound afterwards, but I only had one vehicle loan at the time AND it was my oldest line of credit, so much different circumstances this time around. Thanks for your input.