Your new car loan can drive your credit ahead, cementing your reputation as a responsible borrower who can be trusted with major responsibility including the much-coveted mortgage.
But take a wrong turn – even one late payment – and your credit score will sink, making future credit more difficult to obtain — and in some cases nearly impossible.
And now is the time to guard against making such mistakes. The rebound in the stock market has brought about a “manifestation of the wealth effect,” Robert Johnson, president of The American College of Financial Services in Bryn Mawr, Pennsylvania, told Main Street.
