scoobydrvr
Junior Member
Sad day: I'm having to sell the bike; I can't afford it anymore. I bought the bike in Feb with a loan and haven't missed/been late on any payments.
My question: if I sell the bike now (after 10 months of ownership) what will this do to my credit score? The whole scoring system is pretty ambiguous to me and the only thing I know is that if I could afford to keep the bike for the life of the loan, my score would have gone up significantly (it wasn't bad to begin with).
Will it go down from the original score because I'm terminating the loan early?
My question: if I sell the bike now (after 10 months of ownership) what will this do to my credit score? The whole scoring system is pretty ambiguous to me and the only thing I know is that if I could afford to keep the bike for the life of the loan, my score would have gone up significantly (it wasn't bad to begin with).
Will it go down from the original score because I'm terminating the loan early?