shawnj1234

2 Contributions 2 People Helped

Member Since: November 2009

Most Helpful Contribution

If I apply for a car loan with two different lenders, will that lower my credit score?

Jan 01, 2010
Helpful to 2 out of 3 people

If you are shopping for a new or certified used car loan the best thing to do is look at all 3 credit scores, most all banks and dealer used credit sources use experian if your score is in the high 700's you'll get a rate of 2.9-4.9 anything down to 650 will get you about 8.9 anything below that and you most likely will have a very hard time getting credit or it'll be in the high 18 plus percent rate.

Activity (2 Total Contributions)

If I apply for a car loan with two different lenders, will that lower my credit score?

Jan 01, 2010
Helpful to 2 out of 3 people

If you are shopping for a new or certified used car loan the best thing to do is look at all 3 credit scores, most all banks and dealer used credit sources use experian if your score is in the high 700's you'll get a rate of 2.9-4.9 anything down to 650 will get you about 8.9 anything below that and you most likely will have a very hard time getting credit or it'll be in the high 18 plus percent rate.

If I apply for a car loan with two different lenders, will that lower my credit score?

Jan 01, 2010

No BANK will take the risk for 2 years! However if you are in a bind and are williing to pay the price a finance company will!!! there are several that charge an outragious fee and interest but it will help you get back on track.