Hello
Due to some changing life circumstances, I am seriously considering purchasing a car. I would like to elicit some feedback as to when to pull the trigger.
I have not pulled my CRs since the dates listed in my signature, but in the last 30-45 days I have opened *six* new revolving TLs (and my sig scores are all prior to these new TLs and inquiries). Inquiry counts are between 2 and 5 depending on CR. My total credit limits are $39,250 and my utility is currently at 7% (however I will ensure it is 1-2% when I finally do app). Four of my new TLs are Visa Signatures/WMC which I hear report as NPSL on CRs, so I'm not sure how that will factor into util. Also I will be 3x CLI on my Amex in August which (if approved) will bring total CLs to 47,250.
Naturally I will pull my own scores and such before I do any auto loan apps, but I am wondering when it would be safe to start shopping? Is six months long enough for INQ impact to be minimized enough (along with perfect payment history and low utility on all TLs) to start app'ing? Or should I wait longer than that? I know longer is always best (I mean, I did garden for nearly four years prior to these recent app spree)...but realistically, when is it pretty safe to pull? I know how to play the car game otherwise - shop around, start with own bank, etc.
Other info: ~$52,000 annual income...looking for ~300/mo car payment.
Thanks
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account 
) So, I guess my auto-enhanced would be better? I'm really trying to make sure I qualify for those 0% or 0.9% APR for 60 month type offers.
Thanks
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
Thanks
the auto was a derogatory but now paid closed or it's just paid closed always on time good auto loan?
i suspect you are fine either way to qualify for the best tier for financing.
I would do a truecar.com of the mazda you want with as close to options and colors as you want too and see what dealers come back at what prices and then hopefully your closest dealer is part of truecar and go from there to reach out to the person that you get contact info back on your truecar quote and you can ask them about getting pre-qualified either through mazda.com directly or they probably have an application on their website directly and tell him you are ONLY interested in getting financing from Mazda at the current special APR... you can probably have everything done before even going to the dealership if you wish.
or get the great price and pick out the car you want and go in the dealer, at least the negotiating part will be out of the way.
@Creditaddict wrote:
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
Thanksthe auto was a derogatory but now paid closed or it's just paid closed always on time good auto loan?
i suspect you are fine either way to qualify for the best tier for financing.
I would do a truecar.com of the mazda you want with as close to options and colors as you want too and see what dealers come back at what prices and then hopefully your closest dealer is part of truecar and go from there to reach out to the person that you get contact info back on your truecar quote and you can ask them about getting pre-qualified either through mazda.com directly or they probably have an application on their website directly and tell him you are ONLY interested in getting financing from Mazda at the current special APR... you can probably have everything done before even going to the dealership if you wish.
or get the great price and pick out the car you want and go in the dealer, at least the negotiating part will be out of the way.
The auto loan formerly had some lates that fell off. It's showing as paid satisfactorily/closed now. It was not in collctions or anything.
Cool thanks
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
Thanks
Just some food for thought. I wouldn't go with a Mazda. They are not that great new and are pretty bad used cars. I would spend the extra money for the Subaru if that interests you. They are industry leaders in safety and they are a great used car. If that kind of car is what you're looking for I would suggest looking at the Honda Fit too. Reliable and fairly priced , it is a great option.
* I own a Nissan Maxima so my opinion isn't biased.
@DrZoidberg wrote:
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
ThanksJust some food for thought. I wouldn't go with a Mazda. They are not that great new and are pretty bad used cars. I would spend the extra money for the Subaru if that interests you. They are industry leaders in safety and they are a great used car. If that kind of car is what you're looking for I would suggest looking at the Honda Fit too. Reliable and fairly priced , it is a great option.
* I own a Nissan Maxima so my opinion isn't biased.
well if we are pushing away from Mazda, I would say a NISSAN is far better than the 2 you listed 
(I mean honda is great and bullet proof but a Fit vs a mazda 3... not really same to me.
and Nissan is EASY financing!
@DrZoidberg wrote:
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
ThanksJust some food for thought. I wouldn't go with a Mazda. They are not that great new and are pretty bad used cars. I would spend the extra money for the Subaru if that interests you. They are industry leaders in safety and they are a great used car. If that kind of car is what you're looking for I would suggest looking at the Honda Fit too. Reliable and fairly priced , it is a great option.
* I own a Nissan Maxima so my opinion isn't biased.
Yes, I think I'd prefer the Impreza. I like it better all around. We'll see. I'm still saving to make a nice down payment (4k-5k). The Honda Fit might be a bit too small for me. I'm 6'2'' and already the rearview mirror in the Subaru is at chin level. I'll entertain anything until I do pull the trigger, though.
@Creditaddict wrote:
@DrZoidberg wrote:
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
ThanksJust some food for thought. I wouldn't go with a Mazda. They are not that great new and are pretty bad used cars. I would spend the extra money for the Subaru if that interests you. They are industry leaders in safety and they are a great used car. If that kind of car is what you're looking for I would suggest looking at the Honda Fit too. Reliable and fairly priced , it is a great option.
* I own a Nissan Maxima so my opinion isn't biased.
well if we are pushing away from Mazda, I would say a NISSAN is far better than the 2 you listed
and Nissan is EASY financing!
Honestly the quality of the Maxima is not what I have expected. It's been good and has a lot of power but I am a huge Acura fan and my next car will either be the new TLX or a Lexus ISF.
@nj23 wrote:
@DrZoidberg wrote:
@nj23 wrote:
@Creditaddict wrote:Are you wanting to buy used?
What kind of car?
If your in 700's you don't need to wait at all... auto loans are easy! and you are tier 1 in any standard over 720 but they will pull auto enhanced scores most likely so they could be lower than your regular fico if you have not had auto before but either way I wouldn't worry bout it at all.
I am looking to buy a new hatchback, like a Subaru Impreza or Mazda 3. I much prefer "foreign" makes. Although I love the Subaru, I'd probably go with the Mazda since it's a bit more bang for the buck, and has better gas mileage. I'm well aware that Used are generally a "better value", but I highly value things like warranties and being absolutely certain of the car's care because I would be the only one to have ever driven it. Plus there are other reasons to buy new (Insurance discount, etc.)
I just checked my EX (because it was the lowest when I pulled all before app spree and probably has the most INQs and would be likely worse off than the others) and it's now 734 with 4 INQ and all new TLs reporting (except for Discover). I have a paid/closed auto loan from 2007 still reporting on my CR (formerly a derogatory account
ThanksJust some food for thought. I wouldn't go with a Mazda. They are not that great new and are pretty bad used cars. I would spend the extra money for the Subaru if that interests you. They are industry leaders in safety and they are a great used car. If that kind of car is what you're looking for I would suggest looking at the Honda Fit too. Reliable and fairly priced , it is a great option.
* I own a Nissan Maxima so my opinion isn't biased.
Yes, I think I'd prefer the Impreza. I like it better all around. We'll see. I'm still saving to make a nice down payment (4k-5k). The Honda Fit might be a bit too small for me. I'm 6'2'' and already the rearview mirror in the Subaru is at chin level. I'll entertain anything until I do pull the trigger, though.
I've been there. I'm 6'4 and I drove an Integra Type R for 6+ years.