How will an approved auto loan hurt my credit file?
Starting Score {July 30,2012}: TU 586 EQ 535 EX 583 
minus the hit for the inquiry, the're wouldn't be any dramatic drop like a 20-40 point decrease? I thought the more debt you had the more it will bring down your scores. Well if it doesnt hurt me as much as I thought, i'll be doing the happy dance because i'm still on the rebuilding trail
You take a hit for the Inquiry and take a hit for your AAoA. But this fades fast. It gives you a positive TL that will help strengthen your CR. It's a necessary evil so to speak.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.