Gardening before applying for auto loan

[Anonymous]

Hello myfico friends,

Question.  How long should I garden before applying for an auto loan? I just opened 3 new accounts last months(credit/store cards).

[Anonymous]

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@Anonymous wrote:

Hello myfico friends,

Question.  How long should I garden before applying for an auto loan? I just opened 3 new accounts last months(credit/store cards).

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The question is how soon do you need the car.  But usually 6 moths to a year is good -

[Anonymous]

I have a 93 Toyota, it's still running and hopefully will continue a good while longer. Has over 300100 miles on it.  So I'm thinking December then, Lord willing my scores will be in the 700's by then and some inquires will have fallen by then as well. Thanks for the info.

[Anonymous]

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@Anonymous wrote:

I have a 93 Toyota, it's still running and hopefully will continue a good while longer. Has over 300100 miles on it.  So I'm thinking December then, Lord willing my scores will be in the 700's by then and some inquires will have fallen by then as well. Thanks for the info.

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If December, then you will be golden...

[Anonymous]

First thing i would do is make sure i know my utilization % reporting on & before date of auto application. Then you check your 3 FICO scores on the day of your application. Until then, just dont touch the FICO score button. On the 3 new cards you have be sure of reporting dates of your cards to CRA's. 

i would wait barely until Memorial Day to buy a new car. Its going to be a Chevy Cruze or Mitsubishi Lancer 2014/2015. my situation is desperation not exactly a choice to garden for a while. If i could borrow a relative's car until July 4 th i would definitely prefer that. lol

Now there are captive lenders & Cap1, Santander & Auto Acceptance (sub-prime). i m going to start with Cap1 (3 inq on 3 cra's) and see what offer i get with 644 FICO score on TU. (via Merrick Bank FICO 8 reporting on 20th May).

Wish me luck 

[Anonymous]

I hope and pray everything works out for you.  I know how it is to be in need of transportation, it can be rough.