if i buy a used car and make payments on time will my fico credit score increase??

Update:

ok..would anyone know how much my score would go up?? is there a rate scale or anything

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  • 1 decade ago
    Favorite Answer

    There is no exact scale because your other debt will also effect your FICO. As long as you continue to pay all debt on time, your score will increase, however it varies from person to person. I hope this helps.

    Source(s): Lead Programmer for The Auto Evaluator http://www.usedcarevaluator.com/
  • 1 decade ago

    As long as you pay it on time everytime yes, better yet early, that way you avoid some interest & you get the car paid off sooner & your credit score goes up even more. Because it shows that you are a responsible buyer.

  • 1 decade ago

    of course anything you pay on time will help your credit score especially a car loan since the amount owed is always going down it lowers your income to debt ratio

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