I checked my TU and it dropped 11 points as my new auto loan posted to CR. Fico says most of the fico users paydown 35% of the loan balance. I am going to pay down the loan by 40% and see if my score goes back up again. I really did not needed this loan, I added it so I can have an installment loan shows on my CR. Let us see what happens to score next month once I pay off 40% of the loan balance.
I think installment loan does not affect the age. In the fico report said loan to balance on installment loan is high, high fico scorers keep the balance lessthan 35% or some thing. I'll pay it down by 40% and let us see what happens to the scores when the next statment is cut.