Question Details

Magi, Home Buyer in 91701

How does buying a car effect my credit score?

Asked by Magi, 91701 Thu Jul 17, 2008

I just bought a Prius. I put $14k down, I still owe $19K. I want to buy a beach cottage, Am I better off paying off the car or keeping the money in the bank? It won't effect my ability to make a down payment. My current credit score is 770.

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If your credit score are 770 I would think you should be fine HOWEVER it does depend on your debit / income ratio. You can prefect credit however if you income does not support the requested loan cant purchase.
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