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Old 01-11-2010, 06:49 PM   #1
kammrk
 
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Credit score question?

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.
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Old 01-11-2010, 06:52 PM   #2
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You should still get financed but you will probably have a higher intrest rate
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Old 01-11-2010, 06:55 PM   #3
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Originally Posted by kammrk View Post
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.
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Old 01-11-2010, 06:55 PM   #4
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it also helps to have a "big" down payment
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Old 01-11-2010, 06:58 PM   #5
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it also helps to have a "big" down payment


A score in the 600's will require a pretty substantial down payment IMHO
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Old 01-11-2010, 07:00 PM   #6
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Those 3 times might cost you 4pts... now if you've had others it could be as much as 7 or 8 max
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Old 01-11-2010, 07:02 PM   #7
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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.
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Old 01-11-2010, 07:02 PM   #8
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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.
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