Types of credit effect

[Anonymous]

this is my first time purchasing vehicle, which should show up on my reports soon..Ive never had a mortage or car loan before...I did have a 1000$ student loan that was paid and closed....Only other things I have on report are redit card and charge card....Will this loan send my scores way down or go up, since this will be my only type of loan open.....If so about how much

[haulingthescoreup]

As it will be your only installment loan, it should help your scores.

But it's impossible to tell by how much. This varies by your credit profile and your credit scores.

There might not be an immediate improvement, and there might even be an initial dip, until your first payment shows up.