Your score would’ve come up in 3 months of timely payments and been back to normal in 6 months and you could’ve let your money work for you.
You probably have a score of 800 or more anyway so really 10 points makes no difference at all in the way creditors look at you.
In automotive finance 10 years believe me I could get people with low to mid 500 scores financed and with a little cash down I could get 450 and up done.
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Originally Posted by fixit6404
We bought a new 2020 Yamaha last year at The Villages Golf car Store. We were offered 3 year 0% financing if we wanted. I figured what the hey no interest to pay so leave our money in the bank. What happened was they issued us a Yamaha credit card with just enough credit to buy the cart. Low and behold my credit score went down 10 points because I now have a credit card charged to the limit. Even though we have no other debt and money in the bank. I paid it off immediately and closed the card. Live and learn!
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