How long do I need to have a car loan before  paying it off to get credit for it on my credit report?
342976
The question is do you need an installment loan reporting on your credit file to increase your credit score?\n\nIf your credit score is already 750+ then if you can pay it off, do so. If you need the car loan to report for credit improvement then you should make at least 12 payments that report to maximize your use of the loan for credit purposes.\n\nGood Luck
564283
not every lender reports to credit agencies...plus there are 3 agencies...did u check all 3?  \n\ncall to find otu which one they report to and if they dont ask them for a record of your payments.  then tell them "does this mean I can NOT pay you and nothing will happen if you cant find the car?"
608255
Not sure what you mean.\n\nYou can pay off a loan from a credit union, but it's up to them if they remove the bad credit report.  That's why I tell people to get IN WRITING that they will remove it before you pay them anything.
235578
If you were paying the payments on time then paying off your loan will probably have very little effect on your credit score, positive or negative.\n\nYour question is about Credit Reporting Lag, the time from when you pay off(down) a revolving account or pay off a loan to when it is reported on your credit files. The time frame can be from 30-90 days with the average being about 60 days.\n\nGood Luck
225100
7 years. If you paid it in full. Just dispute it with all 3 credit companys and the reason for dispute is " paid in full ". You can do this online or over the phone.
919975
pay your bills, get a credit card, yea i said it. buy something everything month with it (like a 40 dollar shirt or something, whatever it doesn't matter) PAY IT OFF every month. you build credit by having credit history. \nI have a loan for like 5k for my car, and other stuff and pay it every month, my credit score has gone up tremedously over the past year because of it.
1008568
i think any late payments dont show up on car credit.. im really not sure but good luck with getting a new car :)
541487
Suggestion: Go to 'rent to own' places and ask them if they will report your timely payments to the credit bureaus for you. Most of them will be happy to say yes, if you buy something of course. Get something small and simple and make the payments on it. Try to get 90 days, same as cash and knock it out before the 90 days are up. They report your good work and you can start rebuilding your credit. The bad stuff will still stick around for 7 years, but your efforts will help you in getting loans if you need them. Good luck to you!
1373
Pay your bills on time.  If bill is over due then pay it.  Even when you have paid all your bills, it takes 7 years for credit to be cleaned out completely.
830876
You need to get your papers out and read through them. Most car companies will just come repo it in the middle of the night. Sounds to me like you're buying a car from one of those $50 dollar a week no credit needed places. They generally are a lot tougher than a financing company like Ford or GMAC. Those two will send you a letter threatening to repo after you're 60 days late. Never heard of it being done at 30 days.
12303
If you're talking about a legal judgement on your credit report, it would be no more than 7 years.  It may be less, depending on your state of residence.
1006775
Not only will your credit be checked your credit score as well as your parents will be affected.For example if you are paying on a 5 year loan and are late on your payment\nthis will have an impact on your score as well as your parents.Other hand if you continually make all your payments on time your credit score will rise as your parents will also .That is why it is very important to never be late with any payment.Cosigning for someone is a big risk you're parents must really trust you to make this decision.Show them how right they are and they will be very proud of you and before long you wont need anyone to cosign for you. Good Luck.Enjoy you're new car!
431560
After 7 years the collections will fall off. Depending on how long it's been, determines if you should pay them back.  If it's already been 5 years, then leave it alone.  As soon as it falls off your credit report, your credit score will go back up again.  If you pay it now and it has been five years, your payment will make it current and then you will have to wait 7 years from your payment for it to fall off.  At any rate, your credit will slowly come back to life, but it does take time.  Responsible payments made and not being too close to or over your credit limit are major factors in determining a good credit score.
635485
Absoluetly if you own your car. I would check with a credit union before you go to a bank also. The interest rates there are usually slightly lower. All you need is a clear Car title.
976632
You can....the longest car loans allowed in (IL at least) is 72 months. But creditors are allowing people to refinance their cars now. So I guess if you wanted you could make car payments indefinitely. I'd recommend the sooner it's paid for, the better. If you are in a tight squeeze ask about 72 months instead of 60 and see how much it lowers the payment. It wont by much maybe 20 bucks
914317
If you are thinking about this question in terms of buying a car this site can help you go over the pro/cons of each choice.\n\nhttp://www.myautoloan.com/html/auto_loan/auto_financing_vs_leasing.html\n\nNow, as far as building credit goes, here's a *quick* breakdown of how credit works and how to get your score higher.\n\nThe MOST important thing when it comes to building credit is keeping all of your accounts in good standing (don't have any missed payments or late payments if you can avoid it. 30 days late, while bad, is not as serious as 90 days late or more.\n\nWhat most people don't realize, that if you have a delinquency, and just pay off the account and close it - that will still show up as a delinquency being the last thing reported on the account. The best thing to do is to keep making payments and get good standing for 6months to 2years before paying off the account and closing it. 3-in-1 reports (the most commonly pulled reports for auto and home loans) show the last 2 years of account activities - not the last 7 (even though negative things will still show on your account for up to 7 on a single report).\n\nIdeally, you should have about 5 or 6 credit accounts (VISA, Macy's, Car Loan, etc. each count as 1), and ideally you should have them for 6 or 7 years and more. The longer the better. Keep them in good standing and never use more than 37% of available credit. For instance, if you have credit of $1000 - only spending $370 on that card is Much better than using $500 or more. Part of the credit score is determined by credit being used on available credit. Having debt of 50% or more on available credit is bad and will lower your score.\n\nAnother thing that determines credit score is debt to income ratio.  So, it actually will help you to have cards with high credit limits, just so long as you are not using all that credit. Because if your income is low, you want your debt to be low too. And high credit limits can help (if you don't spend too much) because they will make your ratio better. For example, take that $370 you have in debt from earlier example. If the card now gives you a $2000 credit limit - your debt ratio has now decreased  (you now only have debt of 18.5% instead of a debt of 37%) and your score will be higher.\n\nKeep in mind that the 3n1 reports show 2 years of activity... so if you open an account and keep it for a long time and get a high credit limit - but NEVER use the account - this will actually hurt your score. It is best to use just a little bit of credit and make small monthly payments for about 2 years, so this will show you are good at re-paying credit. This is why some people, who have tons of credit cards and always pay them back each month - even though that is great on their part, that is why they still have low credit scores. You NEVER want to get into too much debt, but a *little* bit of debt can actually build your credit scores.\n\nJust remember that each time you apply for credit or have your credit pulled from someone other than yourself, your score will go down. Ideally, 12 months of no credit inquiries is best. If YOU pull your credit info however (like on credit report websites) there is no penalty no matter how many times you choose to see your report. I, myself, use Identityguard and pull my reports every 2 weeks or so.\n \nWell, this doesn't cover EVERYTHING, but it should at least help you get started on building credit. This info has helped me... I was able to move my score up and buy my first home 2 years ago.\n\nGood Luck!
1008630
Alright...  I'm kinda confused with all your info but...\n\nN = 60  (5*12)\nI = ??\nPV = 19,000  ($22,000 - $3000 down payment)\nPMT = -350 (negative because you need opposite signs)\nFV = 0  (so it paid off in 60 months)\nP/Y = 12  (periods per year)\n\nI think interest is what you are looking for.  Which is approx. 4.01% when the above is solved.  4% is a REALLY good rate for right now but the current average for new car loans is about 5-10% depending on your credit.  4% is possible from a promotional standpoint.  I'm not sure why you are trying to find the future value of your down payment in the second set of information.  Basically, the information I typed aboves means that if you take a loan out for $19000 and pay $350 per month for 5 years, it would be paid off, using 4.01%.  \n\nThe PV of the car is what you are taking the loan out for.\n\nYou would only want to take a loan out for a down payment IF the interest rate is better than the interest rate of the car loan, which is unlikely.  \n\nI recommend paying as much of a down payment as possible and make as large of monthly payments as possible.  Make sure that when you make payment above the $350, that you state that it is for Principle Only, this way your loan will get paid off faster and you will pay less interest.\n\nHopefully this makes sense... let me know if I've confused you.