Approved!! (And a question)

[dazacman30]

I have been working on improving my post BK credit for a while now.. My latest FICO08 scores for me and my spouse were 678-me, 685-her.

I already have a capital one auto loan at 7.1% from last year- and I've been wanting to get another new car.. I bit the bullet today, and got approved for the max up to $40K at 2.43%!!!

I am also waiting to hear back from my credit union, but their advertised rates are higher than this one from Cap 1.  My only other question- it would be OK to apply at the dealership as well, incase of any 0% or .9% rates,with no ding to credit within 30 days, is that correct?

[Revelate]

Yes that's correct, assuming they pull the same report that Cap One did; but if Cap One pulled all of them like they do for their credit cards, shouldn't be an issue at all.  Usually when auto shopping all the inquiries will show up on one report anyway from the dealership, so FWIW I always will let the dealer try to beat whatever financing I have in hand assuming new car.  Used car, if I have a sweetheart deal from a CU (like the 1.99% from Penfed or DCU currently) I'd go that route.

[dazacman30]

Thanks!

[Elcid89]

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@dazacman30 wrote:

I have been working on improving my post BK credit for a while now.. My latest FICO08 scores for me and my spouse were 678-me, 685-her.

I already have a capital one auto loan at 7.1% from last year- and I've been wanting to get another new car.. I bit the bullet today, and got approved for the max up to $40K at 2.43%!!!

I am also waiting to hear back from my credit union, but their advertised rates are higher than this one from Cap 1.  My only other question- it would be OK to apply at the dealership as well, incase of any 0% or .9% rates,with no ding to credit within 30 days, is that correct?

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Yes, correct. Inquiries for auto loans within any rolling 30 day period count as a single inquiry for score calculation purposes. You have already taken that hit, so if you believe that F&I can get a better package through their buyers & capitve, it makes sense to pursue it.