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How does a new car loan affect my credit score in the first few months?
My credit score is 765. Everything is great except my length of credit history because I'm only 26 so it's only showing 3 1/2 yr history. I'm on a waiting list to get my dream car. (100k total. Putting 40k down). It could become available anytime from tomorrow to 6 months from now. Chances are it will be more like Fall, but anything could happen. In the meantime I want to trade in my daily driver for a little newer one. (Old one is worth about 12k & paid off. Wishing to trade for 24k car.) My question is whether my credit score would be helped or hurt by financing the new daily driver short term? I would really like to have the loan show on my credit history but will pay it off when the more expensive car becomes available so that I only have 1 car loan at a time. Please help. I don't know what the hard inquiry plus the new loan / payments will do to my credit over the next few months. Would it help me more to show that I am already use to making $1k payments when it comes to getting the dream car or is the new debt & inquiry, etc. more damaging than the payment history is helpful?

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