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Posted in Auto Loans
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How does the size of a loan affect my credit?
I would like to open an auto loan soon, but I am curious if a larger loan will affect my credit score. I would like to take a loan of approximately $40,000 - $45,000 for anywhere between 5 to 7 years. I've tried the credit simulator, and it says my credit will still be in the good range, but I don't want to rely on it. I would like to be able to secure a good APR for a mortgage in a few months. Assuming I can and will make the payments on time, does the size of the loan matter?

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