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Posted in Auto Loans
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Question By
bigrob21172

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i had a car loan and it does not show up on my credit report and I paid it off??
I purchased two different cars from a dealer I paid them off I traded those cars in once they was paid off and purchased another car from the same dealer I have all the receipts from that dealer showing I paid those cars off how can I get those car loans and payments to show up on my credit report to help my credit report out showing I have good credit with out loans???

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If your car loan reports as open and you paid it off in August, then you need to call your car loan company and let them know it should report as paid on all 3 major credit bureaus: Experian, Transunion, and Equifax. They should comply, if not, then you will need to dispute the rating with the bureaus themselves. You can visit each bureau website and look for the section on how to file a dispute. And if this doesn't work for some reason or another, you can always add a consumer statement of 100 words or less explaining your case. This consumer statement reports on the bottom of you bureau and let's anyone reviewing your credit know what your concerns are regarding the disputed account. Hope this helps a bit.

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If you bought and financed your cars at a local independent auto dealer, they are not required to report how you paid them to any credit bureaus. Most reputable banks, finance company's, and credit unions report to at least one bureau. Next time you buy a car, ask the dealer if they report to any bureaus, if not, find one that does. A big bank will most likely NOT call the dealership for an internal rating as how you paid. 

Reply by
meemoon

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I paid off my car loan last August 2 years early but the loan is still shown as open. How do I update this?

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Car on Credit

I have an open car loan, and i received a letter from the loan company stating that it has been reported, but it is not showing up on any of my credit reports. It has been over the six days, they stated it would take to show up.

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