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Posted in Auto Loans
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Question By
gtt926

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1st time car buyer
Looking into buy a car, its my first, but my score is really low, and trying to build it, would credit card and utility inquiries hurt my chances of getting approved?

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To be honest (and from my own experience) you will likely not be able to get a car loan given your current credit situation. Please take the time to read the articles here so you can understand how credit works and how to build your credit score.  I did and now have a very good credit score.  I bought a new car last year thanks to what I learned here and put into practice. These are necessary skills that aren't even taught in college (I have degrees in accounting and business) and you can use them for the rest of your life!  

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Any inquiry to your credit report as a hard inquiry would lower your credit score.   You did not state what "really low" was, however, if it is really low, you may find your chances for approval are very slim and/or your interest very high.  You may have to deal with a used vehicle and work to improve your credit score to an acceptable number.

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