Credit score question?

[kammrk]

Dealer pulled my credit score three times today how much will this lower my score? also with a score in the low 600's with a good amount down financing around 33,000 will it be possible to get financed? thanks for all advice.

[shawn18]

You should still get financed but you will probably have a higher intrest rate

[Iwantone2]

Originally Posted by kammrk

Dealer pulled my credit score three times today how much will this lower my score? also with a score in the low 600's with a good amount down financing around 33,000 will it be possible to get financed? thanks for all advice.

an inquiry will lower your score about 7 points. however, when the bureaus see multiple inquiries within a week (<-- i think) and they are car inquiries, they should only count it as one inquiry. i think the reasoning is that they understand you are car shopping and they cut you a break during that time.

[Iwantone2]

it also helps to have a "big" down payment

[mjlash22]

Originally Posted by Iwantone2

it also helps to have a "big" down payment

A score in the 600's will require a pretty substantial down payment IMHO

[mlee]

Those 3 times might cost you 4pts... now if you've had others it could be as much as 7 or 8 max

[TommyTSquared]

When I had multiple dealers pulling mine, I was told that there is a couple weeks grace period and that it wont go down so long as you purchase during this period after it was pulled. Again, what I was told, could have just been the dealer blowing smoke.

[mjlash22]

the inquiries will definitely hurt your score a little up front, but you will gain so much more credit in the long run if you pay your monthly statement on time.