Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
Ticomez

1 Contribution
0 People Helped
Can i apply for another car loan while waiting for my 1st GAP loan to be paid off?
I had my car get totaled 3 weeks ago. Should I wait for the 1st loan to clear out of my account before applying for a new one?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1136 People Helped
Most Helpful Response

Helpful to 1 out of 2 people

It depends. Could your "debt to income" handle another loan with the current one open? If so, then go for it. If your "debt to income" is pretty much used up, then you should wait.

Reply by
Ticomez

1 Contribution
0 People Helped

i have extra money from not paying a car note, would it look bad on my credit report when I'm applying for another loan and I already have one on my report. The 1st one is getting ready to be taken off.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.