2006-06-21 04:07:21 · 2 answers · asked by non-speller 3 in Business & Finance ➔ Credit
The car dealer asked what are car credit was, and I have never heard that there was a diffrence between the two...
2006-06-21 04:26:04 · update #1
i think any late payments dont show up on car credit.. im really not sure but good luck with getting a new car :)
2006-06-21 04:15:31 · answer #1 · answered by diamondprincezz456 4 · 0⤊ 0⤋
There is no such thing as car credit. Money owed on a car loan is a simple installment loan secured by a motor vehicle. It is treated the same as any other installment loan secured by an asset. Revolving credit is credit cards and/or lines of credit. If you've never had an installment loan before and have a low credit score, lenders may be hesitant to extend credit (or then give you the loan at a higher interest rate)
2006-06-21 13:46:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋