How to go about applying for a car loan

[Anonymous]

I have just finished paying off about $20,000 worth of bad debt from being self employed.  My credit was trashed badly.  I have about 12 collections that I did settle with and pay off.  I have been working to rebuild my credit for the past 2 years.  I only have 1 revolving account now.

I want to buy a new truck.  I pulled my scores from all 3 and they are:

Experian 619

Equifax 601

TransUnion 615

Should I try to find some sort of financing myself or will I get a decent loan from a dealer?  I am looking to spend around $22,000 and can make payments of around $700 per month.

[Anonymous]

Because you are looking to spend $22K and can afford $700 per month you should be able to get a 48 month loan with a decent interest rate.....the shorter the loan time, the better the interest rate....I would say shoot for 5.9% @ 48 months and you should be able to get it.

Good Luck!

[Anonymous]

Thank you for the answer, but I am still wondering if you think I can get a rate like that through the dealer or should I try applying online?

Also, if I apply at a few different places won't this show up as inquiries and lower my score??

Thanks

[goose3500]

I would recommend getting financed through a credit union should get a decent rate with your scores, also if you apply for car loans within a two week period it only counts as a one inquiry.