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Posted in Auto Loans
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Question By
aniam

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can i apply for auto loan first i and than find the car based on amount of my loan?
I'm rebuilding my credit after bankruptcy 3 years ago (ch 7). my score is 640 and I need new car since my old one cost me a ton of money to fix every month...I would like to know if I can apply for auto loan somewhere where I know I can get loan while having bankruptcy on record, and than based on the amount find the right dealership and the right new car for me? I don't want to lower my score applying for loan in few places.
Or is it the only way to find car first and than apply for loan? My concern is that the car I find will be in dealership that don't work with people that have bankruptcy on their credit history...thank you

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If you apply for several auto loans within the same 30 day period, then only the 1st inquiry hits your score.  The others will show up, but they are not impacting your score.  This allows us to shop around for best rates when it comes to big purchases like homes & autos without hurting our credit scores (one of the few things they got right).  So, just make sure all your applications are within the same 30 day range and you'll be OK.

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