Your car loan writes a line on your credit report.
Equifax
Lender
Installment · I
Date opened
Payment history
Showing since
TransUnion
Lender
Installment · I
Date opened
Payment history
Showing since
Two bureaus. Two separate reports.
Equifax and TransUnion are separate companies, each with its own database, and both build your report from what lenders send in. The same car loan usually lands on both. But not every lender reports to both, and it's common to see the loan on one report a few weeks before the other.
is the rating for an installment loan paid as agreed — the mark you want on every month of the line
past due is usually when a lender reports a late payment to the bureaus
is how long a late payment can stay on your report in many cases — it depends on the bureau, the item and the province
The credit check shows up before the loan does.
The life of the line.
Before: the check
A lender's credit pull adds a hard inquiry. Comparing auto loans in a short window is often scored as one — ask how many pulls they'll make.
Day one: it opens
An installment account with its lender, date opened and original amount. A new loan can bring a small, temporary dip.
Every month: a rating
Each on-time payment is recorded as I1. Payment history is the biggest piece of most credit scores.
If a payment slips
Usually reported once it's 30+ days past due. If a month looks tight, call your lender early.
Paid off
The balance drops to zero and the account closes — and a loan paid as agreed can keep reflecting well for years.
Check both reports for these.
The right details
Lender name, loan amount and open date should match your paperwork.
Your payment history
No late marks you didn't earn.
Balances
They should match your lender's statements.
Anything unfamiliar
Duplicate entries or accounts you don't recognize. Both bureaus have a dispute process.
Make the line work for you.
Financing that reports to the bureaus can be one part of a longer plan to rebuild, as long as the payment fits your budget. Approval isn't guaranteed, but finding out is simple.
Ask who they report to
Equifax, TransUnion, or both, so your on-time payments count.
Keep it comfortable
A payment that fits is one you can make on time.
Call early if it's tight
Many lenders would rather work it out than report a late payment.