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Question By
gavynlovett

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how long will car paymets yske to make a diff in my credit?
iv only had 2 moths now and credit is 528

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do you even know for certain the loan you are paying on is reporting to the credit agencies? is it on your credit report? often times the "buy here pay here" auto places dont' report...if they are not reporting, then the answer is never. if they are, the answer is it could take a while. pay it on time over time, and maybe 6 month to a year your scores should start to come up. 

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As you make each payment on time it will benifit your score.  How much depends on your credit profile.  It will be good for you just never be late and never, never miss a payment.

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mr

Helpful to 2 out of 5 people

a few problems with car payments are, They pay the interest first before you even make 1 payment towards your car so lets say you been paying two years call the company and ask how much have you paid towards the car not the interest i believe my cousin paid for 2 years on a car and it was stll going to interest

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Reply by
pennstate04

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Helpful to 3 out of 3 people

this is the way all installments loans are amortized. part of the payment goes toward principal, part toward interest. in the beginning part of the loan, most of the payment goes toward interest, and only a small amount toward principal. to say after two years it's ALL interest cannot be true. are you still paying interest after two years (say on a five year loan), yes, of course. you'll pay interest until the last payment, but you also pay principal on the first payment, albeit a small amount. 

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car payments

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Your question is very hard to understand...can you repeat it with the correct spelling so that I can understand the question?  Thanks..

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