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Posted in Auto Loans
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rs216

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PAID "buy here pay here" Auto Loan... BUT lender was not reporting at time of payments!?
I recently had a buy here pay here auto loan (of roughly $7000) opened in 5/2013 and I had the loan paid in full as of 4/2014, but the open auto loan was NEVER in my credit history according to Credit Karma. Nor were ANY of my payments, which were ALL made on time. Now the auto loan is paid in full, even 3 months early, so I assume that this could improve my credit score a bit and I'm wondering how soon it will be until this shows up on my credit history??

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Buy here pay here

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I also did a loan like that but it was reported showing paid as agreed NEVER missing a payment, it brought my score up over 80pts BUT the very next month after I paid it off it DROPPED over 100pts and the loan shows closed and nothing about payments or history.  I am so upset.

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Since it was a "buy here pay here" deal, it probably won't be reported. At least mine isn't anyway. My loan works like this: Car lot took the loan out at the bank in their name and I pay the payment directly to them which they send to the bank. Basically, the car lot gets the credit for all of my on time payments. 

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