AutoLoan Advice PLEASE?!

[Anonymous]

HI

I live in MD and I'm planning on buying a 2009 Scion xD (deleted) 

Thanks for your help!!

[llecs]

Welcome to the forums!

Try apping at your local bank or local CU. You'll likely find a better rate.

[Anonymous]

(deleted)

[llecs]

Absolutely you can join and app in the same day. Look around for CUs in your area and check out any feedback here. I'm drawing a blank if I remember seeing any MD CUs here. But look around and am certain you'd qualify for some based on your locality. There's also some national-based CUs that are favored here too like CCCU, Penfed, and others. Or if you have a background with military service, then places like USAA, NFCU, and others are good too.

Don't be afraid to rate shop.

[Anonymous]

(deleted)

[llecs]

FICO reads all auto and mortgage inquiries as one if you applied for such within a 14 or 30 day period, depending on the CRA. So, if you applied for 30 different car loans, FICO will only ding you for one inquiry (which isn't much if anything at all). There's an expectation that the consumer will shop around when buying a big ticket item like that.

The only significant hit to your score would be adding your new loan, due to the new credit, but any damage lessens over a short few months.