The auto loan itself would be considered the "debt." The payments toward it would be considered "debt payments." With regard to your credit report, if you are applying for another loan somewhere and they looked at your debt-to-income ratio, the monthly auto loan payments would be included on the debt side.
Making payments will positively affect your credit score (at worst, it won't change the score much in the short-term, but unless you are making late payments, it should not negatively impact your score). You will be increasing your on-time payment history (which makes up 35% of your FICO score) and you will be decreasing your overall debt (which is also a factor in your FICO score).
This answer was first published on 09/18/15. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
