Does having an Auto loan hurt or improve your credit score??

If your payments are on time, it will help with your credit score. Link below gives you different scenarios that either are good or bad for your credit score. (It calculates different situations for you).
http://www.truecredit.com/help/learncent...

depends on if you pay the loan off on time or not. If you pay it off with no (or very few) late payments. If they repossess your car when you don't make your payments - No.
I can do either. If you pay on time it will improve your credit. If you are late with payments, or it's repossessed it will hurt.
it depends. if you have a 4 year loan make payments on time and get it paid off that will help the score. but if you late with payments that will lower the score. at first it may bring your score down just because you just put say a $10,000 debt on your credit report but once you pay it off it will go back up. i think it can do nothing but help that is if you pay every thing on time.
Auto finance is what I do for a living and obviously from what you said the dealer lied on your application about your total monthly income.

Your scores must have been high enough that the lender did not make the dealer prove your income, so you will be fine as long as you make your payments as agreed.

Now, if something goes wrong and you default on the loan, the lender will investigate and if they find out that the dealer lied on the application and that you both signed the fraudulent application, they can make the dealer buy the contract back and charge you and your husband with fraud.

So you need to honor your contract and make your payments before the due date so there will be no problems and both of your credit scores will improve greatly.
Finance Manager for a car dealer for over 7-years.

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