Deferred loans

[Anonymous]

Hi I hope I'm posting this in the correct spot. I just had a score watch alert saying my fico went up by 2 points because a new account was added. The new account is my student loans for $4571. I am wondering how this loan affects my credit while it is still in deferment. Will lenders look at this as part of my current debt, even though it'll be in deferment for a couple more years?
The reason I'm so curious is that I am hoping to get a car loan in the next few months. I don't have any other debt besides this loan and a few low limit CCs that have low balances. I know lenders will look at debt to income, and my income is low, only 26k.
Also, I know obtaining a car loan won't be an easy task with my low scores. I do have a past auto loan on my report that is now closed but has perfect payment history, never late.
So will lenders be looking at my deferred loan when deciding my DTI and how much debt I can afford to take on?

[Revelate]

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@Anonymous wrote:

So will lenders be looking at my deferred loan when deciding my DTI and how much debt I can afford to take on?

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This would be better in the auto loans board, hopefully one of the mods can simply move it over there, or just ask outright in the "I can help, I manage a dealership" thread as UpNComing will absolutely be able to answer this one.

I'd bet that yes it would be, but student loans could be a special case in this.  Mostly though approvals come down to downpayment anyway, and if you're not buying a car which clearly is too expensive for your current income and debt, you probably won't have much issue.  A $4571 student loan at typical student loan interest and payment duration, isn't likely to be that big of a deal regardless.  You'll probably be fine and that old auto loan is nothing but goodness.

Auto loans are arguably (and it may actually be unarguable) the easiest loan type of any to obtain; unlike mortgages, or unsecured credit, there's almost always financing for a vehicle regardless of your prior history if your downpayment is sufficient.

[Anonymous]

Thanks Revelate I'll be sure to ask in that thread if this doesn't get moved. Another aspect I'm wondering about is if this student loan will start influencing my score right away, as it is an installment and it will add to my mix of credit. or will it not start affecting my score until it comes out of deferment?

[laz98]

Any new account will start influencing your scores right away.  Deferment in & of itself should not affect your score.