Car loan paid off credit score dropped?

There is more to credit than just a score and anyone seeing your score drop after paying off a debt in full would understand why it went down slightly.

Worry about your finances and treat them seriously...

Slight drop due to change in available credit. Short term drop.

Shouldn't drop by too much. And less debt and interest is better anyway.

Not always. Your credit score is kept out by keeping accounts open. The closing of an account often lowers your score.

No. A very common presumption.

A Credit Score is a "likelihood" of continuing paying lenders.

When Credit is "Retired" it is an indication that the subject is no longer paying lenders.

Whether the LOSS of Credit is by the Payee ending the loan, or the Lender not issuing credit, does not enter into the Data.

It is a Removal of a Credit Line, thus the safe speculation is that the Payee is no longer credit worthy. Thus, a drop in the credit score. This is why it is not a good idea to close rolling credit accounts.

[Presumption of the credit bureau is the person no longer has the ability to pay debts.]

Part of your credit score depends on the mix of credit that you have. Installment loans, such as an auto loan, are a "better" type of credit than credit cards are. So, by paying off a better type of credit, the mix of your remaining credit becomes worse, causing your credit score to drop.

Your personal financial situation has improved, but your credit score dropped. The lesson to be learned here is that what is good for your credit score and what is good for your personal financial situation are not always the same thing. People should spend less time worrying about their credit scores and more time worrying about their basic finances.

yes, closing accounts will lower your score, weird system if you ask me