If I trade in my car at 8 months does it hurt or help my credit?

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If I trade in my car at 8 months does it hurt or help my credit?

2007-01-28 08:17:19 · 2 answers · asked by Cyanjuguar 1 in Business & Finance ➔ Credit

2 answers

As long as you are current on your payments, your credit is not helped or harmed. At 8 months, there is an excellent chance you owe more than the car is worth. That means you either pay the difference up front, or roll it into the new loan and start out in the hole.

2007-01-28 09:58:25 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

It should not make a difference if you keep your payments current.

2007-01-28 16:26:48 · answer #2 · answered by Ti 7 · 1⤊ 0⤋